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Frutarom acquires business of Oxford.

Frutarom have announced that it has signed an agreement to acquire the assets and business of the UK Company Oxford Chemicals Ltd. For a consideration of approximately US$12 million (GBP8.25 million).

Frutarom intends to utilize the many cross-selling opportunities which arise from the acquisition by selling its products to Oxford's customers around the world as well as selling Oxford's products to Frutarom's existing customers, especially in markets where Oxford has not had any significant activities until now.

With the integration of the activities of Frutarom and Oxford, Frutarom will benefit from the addition of excellent, high quality personnel, especially in the area of research and development, production, marketing and sales. Oxford's management will join the management of Frutarom's Fine Ingredients Division, contributing its experience and expertise. Oxford has a pipeline of innovative products with emphasis on natural flavours.

According to Ori Yehudai, President and CEO of the Frutarom Group, "Frutarom continues to implement its rapid growth strategy combining internal growth in its core activities, at rates above the industry average, with strategic acquisitions. Frutarom continues working to identify and implement additional strategic acquisitions of companies and activities and believes that its solid capital structure and its ability to generate cash from operating activities, together with available credit lines from leading banks in the world, will enable it to utilize acquisition opportunities created due to the global economic crisis."

Contact Frutarom on tel +972 4 846 2462 or visit:
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Title Annotation:EVOLUTION
Publication:Food Trade Review
Date:Feb 1, 2009
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