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Frutarom to acquire Abaco

This article was originally published in The Rose Sheet

Executive Summary

Frutarom U.S.A. Inc. - a wholly owned subsidiary of Frutarom Industries - has signed an agreement to acquire the flavor and fragrance ingredient supplier Abaco for $4 mil. with assumption of the company's $1.1 mil. debt, firm announces July 4. "The acquisition is expected to enhance Frutarom's activities in the U.S., which is a strategic market for the Frutarom Group, and to expand the product line offered by the Fine Ingredients Division to its customers in the U.S. and globally," firm says. "The acquisition of Abaco, the fifth acquisition Frutarom has made this year, demonstrates the continued implementation of the rapid growth strategy of the Frutarom Group, which is already one of the ten largest companies in the world in the flavor and fragrance field said," President and CEO Ori Yehudai remarks...
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