June 29, 2015
Israel-based ingredients firm, Frutarom has acquired New-Zealand based fruit ingredients company, Taura Natural Ingredients Holding Ltd for US$70 million. Frutarom states that the purchase is aligned with the company’s strategy to expand its interests in natural products, and its interest in gaining presence in New Zealand and Australia.
“The acquisition accelerates the growth of our activity in Asia-Pacific markets, with emphasis on Australia and New Zealand, while for the first time we will have R&D, sales and marketing platforms and a production site located in New Zealand,”states Frutaron Group president and CEO, Ori Yehudai.
Taura, which has manufacturing facilities in Belgium and New Zealand and sales offices in the UK and the U.S., produces concentrated and textured fruit ingredients. Sales for the year ending March 31 were US$40 million. Taura’s production activity will be integrated into Frutarom’s global business, and Taura’s current chief executive officer, Peter Dehasque, will continue in his role running the company.
“…Through its global footprint and infrastructure, Frutarom will enhance Tuara’s presence dramatically in key markets, untapped geographies, new business segments and new customers,” says Peter Dehasque, and will set the scene for solid growth in the U.S. market, one of our key strategic imperatives.”
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