Acquisitive Israeli flavour firm, Frutarom, has acquired South African supplier, Unique Flavors (Unique) for R90-million. The transaction forms part of its goal to achieve a target of US$2 billion by 2020. Unique Flavors has a wide customer base in South Africa and other countries such as Ghana, Malawi, Zimbabwe and Mozambique.
‘Its activity is synergetic to Frutarom’s flavours activity in Africa, which has grown in recent years at a substantial pace surpassing the rate of market growth,’ a statement by Frutarom says. Last year it opened a new production plant and R&D centre in Johannesburg.
This is Frutarom’s second acquisition in Africa after it bought JannDeRee in 2013.
President and CEO of Frutarom Group, Ori Yehudai says, ‘We intend to combine Unique’s research and development and sales and marketing platform in Africa with that of Frutarom. This will leverage cross-selling opportunities between activities.
‘We also intend to capitalise on the synergies and savings made available by combining Unique’s activity with Frutarom’s existing activity in South Africa.
‘We are working on seeking out and executing additional acquisitions of companies and activities in our fields of activity, with special focus on high-growth markets in Asia, Central and South America, Central and Eastern Europe and in Africa,’ Yehudai enthuses.