Frutarom Will Acquire Enzymotec For $210M

October 30, 2017 | Haifa-based flavor and fragrance company Frutarom will acquire Israeli-based biotech company Enzymotec, for about $210 million, according to a statement from the company. Enzymotec will become a subsidiary of Frutarom. The merge means full integration of Enzymotec’s R&D, sales, marketing, production, and logistics and the expansion of both Enzymotec’s and Frutarom’s current customer bases. Frutarom believe Enzymotec’s nutrition segment will play an important part in future profits and growth strategy for both companies in terms of the expansion of pharmaceuticals, dietary supplements, infant formula, and elderly clinical nutrition. The total assets acquired in the merger as of June 30, 2017 were at $147.8 million. Enzymotec develops and manufactures nutritional ingredients and medical foods, driven by state-of-the-art technologies. It was founded in 1998 by Sobhi Basheer. Frutarom is a global flavor and fine ingrediants company founded in 1933.[Photo: Courtesy]