9 December 2015
DETAILS
The 12th Acquisition by Frutarom this year, 2015.
Frutarom Industries Ltd. ("Frutarom")
continues implementing its rapid and profitable growth strategy
and announces today its acquisition of 100% of the share capital of
the Hong Kong based companies
Inventive Technology Ltd. and Prowin International Ltd.
(hereinafter collectively "Inventive") for USD 17 million.
The purchase agreement includes a mechanism
for future consideration conditional on
the company's business performance
over the three year period following the acquisition.
The transaction was financed using bank debt.
Inventive was founded in 1998 and engages in
the development, manufacture and marketing of
flavors and innovative flavor inclusions
through the application of innovative solutions and
unique technologies for combining flavors
with fruit components, chocolate, grains and nuts
in many food products, particularly
dairy products, ice creams, pastries and beverages.
In the 12 months ending October 2015 sales for Inventive
reached USD 13.7 million.
Inventive has manufacturing, research and development,
and marketing facilities at Zhàoqìng in southern China
where it has excess production capacity, as well as
an R&D and sales center in Shanghai and
sales and marketing offices in Hong Kong.
The company has a broad customer base
which includes blue-chip global food and beverage makers
along with leading Chinese food and beverage manufacturers,
and its products are sold in China, Southeast Asia,
the Middle East and South America.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
