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Israel's Frutarom buys French flavours firm Rene Laurent
April 4, 2017 / 6:41 AM / in 8 months

Israel's Frutarom buys French flavours firm Rene Laurent

TEL AVIV, April 4 (Reuters) -

* Israeli flavour and fine ingredients company Frutarom Industries said on Tuesday it acquired French flavours company Rene Laurent for $21.3 million.

* The deal was financed through bank debt.

* Founded in 1885, Rene Laurent had sales of $13.2 million in the 12 months ending in March 2017 and employs 100 people.

* Rene Laurent has two production sites and an R&D centre near Cannes plus a production site near Casablanca. The company has a broad customer base in Europe, mainly in France, as well as in French-speaking countries in Africa and in Asia.

* This is Frutarom’s second acquisition this year following the purchase of South Africa’s Unique Flavors. (Reporting by Tova Cohen)

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