Frutarom improves flavors distribution in Canada
its products in Canada is to be taken up by Nealanders
International, a move in line with Frutarom's strategy to become
one of the world's top ten flavor players.
"Nealanders has impressive contacts and products suited for the Canadian market. Nealanders will greatly enhance the ingredients we offer to our customers in the flavor, nutritional, pharmaceutical supplement, cosmetic and personal care industries," said Frutarom USA president William Ludlum.
"With new business emerging from this relationship with Nealanders, we're optimistic that we can provide some of the most in-demand attributes for a wide range of applications. Nealanders is well positioned in new product development and we are looking to enhance their presence as early as possible in the product development process," he added
The move is the latest in a line of recent acquisitions by the ambitious flavour company. The company bought the flavoring extracts business of AM Todd Botanical Therapeutics in June, and in August last year Frutarom completed the €30 million ($35.9m) acquisition of International Flavours & Fragrance's (IFF's) fruit preparation operations in Europe, including Germany, Switzerland and France.
Buying into IFF's fruit and vegetable extract business gives Frutarom a firm foothold in the growing natural ingredients market: a market currently enjoying success as it profits from the booming consumer trend for health and wellness products and to due to break the billion euro barrier by 2009.
In a previous acquisition, Frutarom UK paid €20 million ($23.9m) in June 2003 for the Swiss flavours company Emil Flachsmann (now Frutarom Switzerland), providing it with an increased stake in the botanical extracts market, and the company has also been looking at emerging markets.
Frutarom continued to grow during the first quarter of 2005 for the 22nd consecutive quarter. Sales grew 47.3 per cent compared with the same quarter in 2004, reaching US$64.7 million. Net profit totalled US$ 7.1 million, growing 66.2 per cent compared the same quarter last year.
Frutarom is a global company operating in the global flavor and ingredient markets. The group has production and development centers on three continents and markets its products on five continents to over 3,500 customers in more than 100 countries.
The Israeli firm recently confirmed its ambitious strategy for the next three to four years, announcing it is looking to more than triple turnover to $500 - 600 million by 2008, through acquisitions and "accelerated growth in core activities".
