JERUSALEM - Israeli food flavorings and specialty ingredients company Frutarom Industries said on Tuesday it bought US-based Flavor Systems International Inc. in a deal worth as much as $45 million.
It was the fifth acquisition in 2011 for Frutarom, the world's seventh-largest maker of flavors and specialty ingredients.
"Flavor Systems ... considerably expands our activities in the United States, which is the world's largest flavor market, and supports Frutarom's future strengthening and positioning in the global market," President and Chief Executive Ori Yehudai said in a statement.
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