Multinational group buys South African flavour company
Last month, multinational flavour and fragrance company Frutarom announced that it had signed an agreement for the purchase of flavouring company Unique Flavors South Africa for about $6.7-million (R90-million).
Unique Flavors engages in the development, production and marketing of flavours, with emphasis on savoury flavours and sweet taste solutions and has grown in recent years at a rapid pace. The company’s sales volume in the 12 months ending January 31 this year amounted to an estimated $9-million (R131-million).
The purchase agreement includes provision for future consideration based upon Unique Flavors’ future business performance. The company has a research and development (R&D), production and marketing site in Pretoria near Frutarom’s new South African site.
It has a customer base in South Africa and other emerging markets in the sub- Saharan Africa region such as Ghana, Malawi, Zimbabwe and Mozambique.
Unique Flavors has a workforce of 64 people and its activity is synergetic to Frutarom’s flavours activity in Africa, which has grown significantly in recent years, exceeding the market growth rate.
Frutarom states it aims to merge activities, including combining R&D, sales and marketing, purchasing, production and supply platforms.
The management and CEO of Unique Flavors will be integrated into Frutarom’s management in Africa to facilitate further growth in the region.
This acquisition is Frutarom’s second purchase in Africa. In 2013, Frutarom purchased flavour company JannDeRee.
In recent years, Frutarom has made efforts to expand its activity in Africa.
The company continuously aims to improve its manufacturing infrastructure, local and global R&D and marketing capabilities while capitalising on the synergies generated by integrating purchased companies.
Last year, Frutarom inaugurated a new production plant and R&D centre in Johannesburg to accommodate the markets in the region.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation