ISRAEL, Herzliya. The Israelian company Frutarom Industries Ltd. has begun 2016 like it finished 2015 – on the acquisition trail – with the purchase of 50% of biotech company Algalo Industries Ltd. from Kibbutz Ein HaMifratz, Israel, for around $2.6 mill. which will fund the building of a facility that will specialise in the cultivation, harvesting and processing of algae. Frutarom will have exclusive worldwide marketing rights for Algalo products.
Short time after Frutarom's largest acquisition of 100% of the shares of Sagema GmbH of Austria and Wiberg GmbH of Germany (including Wiberg's 50% ownership share in a Canadian subsidiary and 51% ownership share in a Turkish company) for around $130.4 mill. the company continues its momentum of acquisitions and implementation of its rapid and profitable growth strategy.
Among the companies and activities acquired: Nesse, Gewürzmüller and the savoury activity of Chr. Hansen in Germany (in 2006, 2007 and 2009 respectively); EAFI in the UK, the savoury activities of Rieber in Denmark, US-based FSI and the savoury activities of Chr. Hansen in Italy in 2011; Savoury Flavours in the UK and ETOL in 2012; JannDeRee in South Africa and PTI in Russia in 2013; and FoodBlenders in the UK, BSA of Canada with activity also in India, and AMCO in Poland in 2015.