Frutarom buys 7.57% stake in Nasdaq-traded Enzymotec

Ori Yehudai  photo: Eyal Izhar
Ori Yehudai photo: Eyal Izhar

Frutarom is paying approximately $12.9 million for its investment in Enzymotec, which produces innovative lipid-based bioactive ingredients.

Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) notified the Tel Aviv Stock Exchnange this morning that, through a subsidiary, it has invested in approximately 7.57% of the share capital of Enzymotec Ltd. (Nasdaq: ENZY), for approximately $12.9 million, reflecting an average price of about $7.4 per share. Frutarom financed the investment from independent sources. Shares in Enzymotec closed at $8.45 yesterday, up 4.97% on the day.

Enzymotec is based in Migdal Ha'emek. The company is a developer, manufacturer and marketer of innovative lipid-based bioactive ingredients for the nutritional supplement, healthcare, medical foods and infant formula industries, and possesses know-how, research and development, and products that are in part of interest and relevance to Frutarom's core businesses.

Frutarom said in its notice to the stock exchange, "Frutarom views the investment in Enzymotec as interesting and relevant if a significant change were to occur in Enzymotec's business strategy and implementation.

"In accordance with the future strategy and its implementation and other measures such as Enzymotec's business and financial position and its market value, Frutarom will consider its future investment and whether to increase or reduce its holdings."

Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Ori Yehudai  photo: Eyal Izhar
Ori Yehudai photo: Eyal Izhar
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018