Israel’s Frutarom Acquires Israeli Biotechnology Research For $21M
February 4, 2018 | Israel-based flavor and fine ingredients company Frutarom today announced it has purchased 100 percent of shares in Israeli Biotech Research (IBR) for $21 million. The deal was financed through bank debt. This marks the first acquisition of the year for Frutarom, one of the world’s 10 largest companies in the field of flavors and natural specialty fine ingredients. Through the acquisition, Frutarom continues its efforts to actively pursue activities in algae-growth and active ingredients extraction for personal care and skin protection. Its goal is to establish its position as a leading global supplier of unique natural products and “develop a worldwide business in the growing and profitable fields of natural cosmetics,” Frutarom CEO Oi Yehudai said in a statement. Frutarom bought 12 companies in 2017 and has made 32 acquisitions since 2015. Founded in 1995, Israeli Biotech Research develops, manufactures and markets active ingredients for cosmetics and dietary supplement industries, with sales of $7.4 million in 2017.