Frutarom Acquires F&J for Taste-MaskingBy
Frutarom Industries Ltd. , a flavors and specialty fine ingredients company based in Herzliya, Israel, has acquired the US flavors company Foote & Jenks (F&F) for approximately $4 million. A major part of F&J sales are to the pharma industry, specifically for flavors used in taste-masking of active pharmaceutical ingredients. The transaction was completed upon the signing of the agreement and financed through bank debt.
Frutarom is multinational company operating in the global flavors and fine ingredients markets with more than 31,000 products marketed n 150 countries. Frutarom's products are intended mainly for the food and beverages, flavor and fragrance extracts, pharmaceutical, nutraceutical, health food, functional food, food additives, and cosmetics industries.
Founded in the early 1980s, F&J develops, manufactures, and markets flavor extracts for the pharma, food and beverages industries. The company has 10 employees, a site in New Jersey for its production, R&D and marketing activities, and a customer base in North America. Sales turnover for F&J in 2014 amounted to approximately $2.9 million.