Frutarom gobbles up Swiss flavour makers Mühlehof Gewürze
Frutarom Industries announced on Monday it had signed an agreement that would see them acquire 100% of Swiss company Mühlehof Gewürze.
Chemicals
9,390.47
17:10 19/04/24
0.67%
62.57
Frutarom Industries Ltd GDR (Reg S)
$48.00
12:00 03/10/18
0.00%
$0.00
The total of the $7m purchase was financed through bank debt.
Mühlehof is a company focussed on the production and development of food flavourings and have been in operation since 1979.
The two companies plan to build on one another's existing presence and know-how within the European market.
According to Mühlehof financial results for the year ended f30 June 2017, the company saw a sales turnover of approximately $3.4m.
As of 1600 BST, Frutarom shares had jumped up 1.85% to ILA 26,480.00.