IFF Buys Israel's Frutarom for $7.1 Billion

In another chapter of the ever-growing story of Israeli tech and business expanding across the globe, the New York-based International Flavors & Fragrances (IFF) announced on Monday that it will be purchasing the Haifa-based Frutarom Industries for $7.1 billion, to be paid two thirds in cash, and the other third in stock. The final price represents an 11 percent premium on Frutarom’s closing value.

Founded in Haifa in 1933, Frutarom began by creating herbal and fruit essences using local produce, exporting nearly all of its stock. Employees would also spend Tu B’Shevat, the Jewish new year’s day for trees, planting trees and bushes in the factory’s yard, and would spend an additional day a year on a joint nature hike. The company soon grew, however, itself purchasing 32 other companies in the last six years alone.

Continue reading "IFF Buys Israel's Frutarom for $7.1 Billion" at...