Frutarom Acquires the Business of UK Company Oxford
Frutarom Industries has signed an agreement to acquire the assets and business of the UK Company Oxford Chemicals for consideration of approximately $12m.The consideration will be paid in full in cash at completion. Completion of the transaction is expected to take place within the coming weeks. The acquisition will be financed through a long-term bank loan. Oxford's activity is highly synergetic with Frutarom's global Fine Ingredients Division, whose development laboratories and production facilities are located in the U.S., UK, Switzerland and Israel. The acquisition is expected to enhance the product offering of Frutarom's Fine Ingredients Division and its customer base around the world. Oxford has hundreds of customers, including leading multinational flavor and fragrance companies, with which Frutarom and Oxford have excellent long-term relationships. Frutarom intends to utilize the many cross-selling opportunities which arise from the acquisition by selling its products to Oxford's customers around the world as well as selling Oxford's products to Frutarom's existing customers, especially in markets where Oxford has not had any significant activities until now.
Haifa’s Frutarom ( http://www.frutarom.com ) is a multinational company which operates in the global markets of flavors and fine ingredients. Frutarom has significant production and development centers in three continents and it markets its products to five continents and more than 5,000 customers in 120 countries. Frutarom's products are designated for the industries of food and beverage, flavor and fragrance, pharmaceuticals, nutraceuticals, health food and functional food, food supplements and cosmetics. (Frutarom 05.01)
