HERZLIYA, ISRAEL: Frutarom Industries Ltd (Frutarom) has acquired 80 percent shares of SDFLC Brasil Indústria E Comércio Ltda (SDFLC), a leading Brazilian producer of taste solutions for ice creams and desserts, for approximately $33 million.
The purchase agreement includes an option for the purchase of the balance of shares beginning about two and a half years after the date of completion of the transaction at a price based on SDFLC’s business performance during this period.
SDFLC was founded in 2001 and employs about 90 workers and serves around 2,250 customers in Brazil.
The activity of SDFLC is synergetic to a large degree with Frutarom's taste solutions activity. This is Frutarom's third acquisition in Brazil since 2012 and its fourth acquisition this year.
SDFLC is currently in the process of building a new, modern 20 thousand square meter site that will include state-of-the-art R&D laboratories and an advanced automatic production platform.
“The acquisition of SDFLC is the continuation of the implementation of Frutarom Group's rapid profitable growth strategy and the realisation of its vision 'to be the preferred partner for tasty and healthy success.' This is an important strategic acquisition that provides Frutarom with significant reinforcement of its position in the Brazilian market,” said Ori Yehudai, president and CEO of Frutarom Group.
“Completion of construction on the modern new site will permit the doubling of SDFLC’s production capacity while supporting the further rapid growth in activity and exploitation of the abundant operational synergies with our existing activity in Brazil,” added Yehudai.
© Worldofchemicals News
Read More: Frutarom buys SDFLC in Brazil, its 4th acquisition this year
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