Frutarom acquires remaining stake in Spanish firm Nutrafur
Israeli flavours and specialty ingredients manufacturer Frutarom has acquired the remaining stake in Nutrafur, a Spanish natural plant extract producer.
Frutarom acquired 20.92% of Nutrafur shares from its founding members for $2.36m, thereby taking its ownership in the Spanish company to 100%.
In September 2015, Frutarom acquired a 79% stake in the natural plant extract producer.
Nutrafur is involved in the research and development, manufacture, sales and marketing of speciality natural plant extracts with antioxidant properties. It sources active components from vegetation, especially rosemary, olive and citrus.
This deal will help Frutarom expand its portfolio of natural products for both food and health sectors.
Nutrafur has been active in the field of antioxidants and the preservation of natural components, which would inturn bolster Frutarom’s product portfolio that has been strengthened with the purchases of Vitiva and Ingrenat in 2015.
Frutarom Group president and CEO Ori Yehudai said: "Over the past two years, Frutarom has made a major leap forward in strengthening its position as a leading global producer of natural specialty ingredients by acquiring Vitiva, Ingrenat, Nutrafur and Extrakt-Chemie, while deepening and expanding our activity in the growing field of natural extracts from plants and antioxidants for food products.
“We will continue investing in the significant expansion of our global activity in this important and growing field, both through strategic acquisitions and in collaboration with universities, research institutes and start-up companies in developing innovative products."
Nutrafur has an R&D and sales centre, and a manufacturing plant in Murcia, Spain. Frutarom plans to make investments in the facility to enhance production capacity.