(photo credit: JPOST STAFF)
Israeli flavor and ingredient business Frutarom has been acquired by American company International Flavors & Fragrances Inc. (IFF) in a deal worth $7.1 billion, the companies announced Monday.
Frutarom, based in the northern Israeli city of Haifa, develops and manufactures flavors and ingredients for the food, fragrance, pharmaceutical and cosmetic industries.
“This transaction is a big win and a fantastic outcome for shareholders, customers and employees of both companies,” said IFF Chairman and CEO, Andreas Fibig.
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