Frutarom buys Taura for US$70m


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Frutarom buys Taura for US$70m

Related tags New zealand United states Snack

Israeli ingredients firm Frutarom has acquired New Zealand-based fruit ingredients company Taura Natural Ingredients Holding Ltd for about US$70m, the company has said.

Taura specialises in concentrated and textured fruit ingredients with manufacturing facilities in Belgium and New Zealand, as well as sales offices in the UK and the United States. Sales for the year ending March 31, 2015 were about US$40m. Frutarom said the purchase was aligned with its strategy to focus on natural products, which now account for two-thirds of its portfolio – and would also help it to expand in Australia and New Zealand.

"The acquisition accelerates the growth of our activity in Asia-Pacific markets, with emphasis on Australia and New Zealand, while for the first time we will have R&D, sales and marketing platforms and a production site located in New Zealand,”​ said president and CEO of Frutarom Group, Ori Yehudai. “Taura has long-established relationships with leading customers in these countries that can serve as a springboard for offering them our full unique range of products.”

Taura’s activity will be integrated into Frutarom’s global flavours business, Frutarom said, and Taura’s CEO Peter Dehasque will continue managing the company.

Dehasque said: "This strategic move represents a major milestone in fueling Taura's continued profitable growth into the high value, high growth segments of natural foods and nutritional snacks.

"…Through its global footprint and infrastructure, Frutarom will enhance Taura's presence dramatically in key growth markets, untapped geographies, new business segments and new customers and will set the scene for solid growth in the US market, one of our key strategic imperatives.”

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