Frutarom Industries has acquired German natural specialty ingredients producer Extrakt Chemie Dr. Bruno Stellmach.
Frutarom purchased the company for $6m in cash, as well as approximately $2.2m of assumed debt. The deal included the property where Extrakt Chemie's plant is located.
Established in 1969, Extrakt Chemie produces specialty ingredient extracts, primarily for pharma, natural medications, nutritional supplements, foods and cosmetics.
Frutarom Group president and CEO Ori Yehudai said: "Over the past two years, Frutarom has taken a major strategic step in strengthening its position as a leading global manufacturer of specialty fine ingredients.
"We acquired Montana Food in Peru and Vitiva in Slovenia along with Nutrafur and Ingrenat in Spain, companies engaged among other things in natural plant extracts and natural colors, as well as Florida-based CitraSource and Scandia specialising in natural citrus-based specialty ingredients, and also Algalo and Grow with their unique technologies for natural raw material extracts.
"The acquisition of Extrakt Chemie is a natural continuation in the strengthening of our global infrastructure for natural ingredient extracts."
This is the 30th purchase made by Frutarom in the past five years and the fifth completed since the beginning of this year.
