Frutarom confirms acquisition interest

Ori Yehudai CEO Frutarom Photo: Shlomi Yosef

"There is no certainty that such talks will lead to an agreement for a deal or what the terms would be,” the flavors and fragrances company said.

Israeli food flavor and fragrance company Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) has confirmed reports that it is the subject of acquisition interest. Frutarom notified the Tel Aviv Stock Exchange (TASE) this morning that, "It has held talks from time to time regarding possible strategic measures, including via a merger or acquisition."

Frutarom added, “The company has not reached any agreements with any party regarding a deal and there is no certainty that such talks will lead to an agreement for a deal or what the terms would be,” it said. “The company continues to focus on achieving its business targets.”

After acquiring 39 companies over the past five years, Frutarom has become one of Israel's biggest companies with market cap of nearly $6 billion. This ambitious spending spree has been led by CEO Ori Yehudai. With 5,400 employees, the Haifa-based company operates in over 150 countries and has over 30,000 customers.

Published by Globes [online], Israel business news - www.globes-online.com - on April 11, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Ori Yehudai CEO Frutarom Photo: Shlomi Yosef
Ori Yehudai CEO Frutarom Photo: Shlomi Yosef
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