Frutarom Industries Ltd., has purchase 79 percent stake in Spanish company Nutrafur S.A. based on a company value of about $ 14.5 million.
The deal was completed upon signing and is being financed with bank credit. Nutrafur specializes in the research and development, manufacture, and sales and marketing of specialty natural plant extracts bearing antioxidant properties or scientifically proven healthy qualities and supported by clinical studies for the food, pharma, nutraceutical and cosmetics markets.
Nutrafur sales for the 12-month period ending June 2015 amounted to around $13 million.
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