Frutarom acquires Florida-based CitraSource

Frutarom Industries Ltd. (“Frutarom”), one of the world’s ten largest flavor and fine ingredients houses, continues executing on its strategy of achieving rapid and profitable growth and announces today the acquisition of the business and assets of CitraSource based in Florida, USA for a consideration of USD 7.5 m plus an additional future payment conditional upon CitraSource’s performance in the years 2014-2018.

CitraSource specializes in R&D, manufacturing, marketing and selling of unique solutions in citrus specialty ingredients to major players in the global flavor and fragrances market as well as to the food and beverage industries. CitraSource state of the art plant and global purchasing capabilities in the field of citrus will strengthen Frutarom’s position as a leading player in the R&D, production and sale of citrus specialty, an important ingredient of flavor solutions and many food and beverage products.

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