FDBusiness.com

Frutarom Industries, one of the world’s ten largest flavour and fine ingredients houses, is continuing with its strategy of achieving rapid and profitable growth with the acquisition of the business and assets of US-based CitraSource for a consideration of $7.5 million 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.

Frutarom is a leading global developer and producer of specialty citrus solutions, and is continually investing in innovative, unique technologies for processing, extracting and refining of citrus fruits. This acquisition aims to accelerate Frutarom’s abilities in developing and producing advanced taste and health solutions, giving Frutarom an important competitive advantage.

CitraSource’s revenues in 2013 were about $7 million. CitraSource’s customers include leading global flavors, food and beverage players. CitraSource’s knowhow, expertise and capabilities across all ranges of citrus (Orange, Grapefruit, Lemon, Lime and Tangerine) will expand Frutarom’s natural ingredients portfolio and together with CitraSource’s worldwide sourcing network will add to Furtarom’s leadership position in the market of production and selling of citrus specialty, an essential ingredient for flavors and many food and beverages products.

Combining CitraSource’s extensive knowhow and R&D capabilities in citrus specialty, its innovation and marketing with Frutarom’s knowhow and customer base will allow Frutarom to establish another global center of excellence in citrus and provide its customers with innovative added value products and comprehensive solutions tailor made to their special needs.