Frutarom Acquires Majority of GewurzMuhle Nesse Shares

January 23, 2006 | Contact Author | By: Rachel Chapman
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Frutarom has acquired 70% of the shares in savory ingredients provider GewurzMuhle Nesse. Shares in the German-based firm were bought for €18.41 million, plus a future success fee payment based on continued improvement in Nesse’s future EBIT.

“The acquisition will significantly strengthen Frutarom’s technological capabilities and savory offering, as well as our market position in both West and East Europe as leading flavors supplier, while contributing to our sales turnover and profit,” said Ori Yehudai, president, Frutarom.