Frutarom acquires UK-based flavours company, Flavours & Essences (UK) Ltd in £14.75 million deal
Bank Leumi (UK) finances Frutarom’s acquisition of UK-based flavours company, Flavours & Essences (UK) Ltd.
The £14.75 million deal supports the global flavour and fine ingredients company’s continued growth strategy
LONDON: Bank Leumi (UK), the multi-specialist London-based subsidiary of Israel’s international bank, has closed a £14.75 million loan to leading global flavours and natural fine ingredients company, Frutarom. The deal finances the acquisition of UK-based flavours company, Flavours & Essences (UK) Ltd.
Listed on the London and Tel Aviv Stock Exchanges, Frutarom Industries Ltd. maintains significant production and development centres on all six continents and markets and sells over 70,000 products to more than 30,000 customers in over 150 countries. Frutarom’s products are intended mainly for the food and beverages, flavour and fragrance extracts, pharmaceutical, nutraceutical, health food, functional food, food additives and cosmetics
Shalhevet Mandler, Head of Commercial Finance at Bank Leumi (UK) commented: “We are a relationship bank by nature, we’re always keen to support clients as they develop, so we’re pleased to support the company once more as it continues its expansion.”
Ori Yehudai, President & CEO at Frutarom, said: “The strategic acquisition forms a crucial continuation of our successful, rapid and organic growth strategy. Just as we’ve grown substantially in recent years, so have our requirements for loan facilities – and yet again Bank Leumi has delivered.” [Ends]