October 1, 2014 | The Israeli global flavor and ingredients producing company, Frutarom acquired Montana Food for $28 million. Montana Food is the flavors and natural food colors division of the Peruvian company Montana SA. Frutarom will pay $28.5 million in cash and assume the company’s $6.5 million debt as part of the acquisition agreement. Frutarom will also gain control of Montana Food’s operations in Chile. Frutarom was established in 1933 and is one of the top ten companies in the world the in production of flavors and fragrances.