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Frutarom to acquire Italian meat blends business
30 May 2011: Frutarom is likely to acquire the majority of Chr Hansen’s ingredients blends business for meats and sausages for Euro 25 million (approx Rs 160 crore).
Frutarom has a rapid growth strategy in place which consists of bolt-on acquisitions and organic growth across flavours and fine ingredients. It completed two acquisitions in Q1: the industrial spices division of Norway’s Rieber & Son and the assets and activity of UK company EAFI.
The latest acquisition, for which a definitive agreement has been signed, covers flavors, seasoning compounds and functional ingredients for the food industry, with an emphasis on processed meat and convenience food applications.
The Parma-based business also has good sales in Russia, Ukraine, Poland, Czech Republic and France. The acquisition also includes a state-of-the-art plant in Parma, and R&D laboratories. Some 45 Chr Hansen employees will join Frutarom.
Source: Nutraingrdients