- Frutarom bought New Jersey-based biotech company Grow Co. for $20 million. With the investment, Frutarom adds advanced R&D capabilities and major customers to its portfolio of natural specialty fine ingredients.
- Grow’s biotech process creates natural ingredients that improve the body’s absorption of vitamins and minerals.
- Frutarom will continue expansion trajectory with "an excellent pipeline of future acquisitions," said Ori Yehudai, president and CEO, Frutarom Group.
Grow’s customers come from the dietary supplement, natural remedy, functional foods, cosmetic, and flavors sectors. Its products will boost Frutarom’s offerings in natural solutions to the food and health sectors.
This purchase marks Frutarom’s 29th acquisition in the past five years. The company also announced on Monday its purchase of 75% of the share capital of AMCO Sp. z o.o., a Polish company specializing in savory flavor solutions. Last week, the company announced its 50% investment in Algalo Industries Ltd. of the Kibbutz Ein HaMifratz in Israel. The company develops microalgae-based technologies for use in dietary supplements and pharma drug compounds.