Mishcon de Reya advises Frutarom on the acquisition of Savoury Flavours
Mishcon de Reya has advised Israeli client Frutarom Industries Ltd ("Frutarom") on the acquisition of Savoury Flavours (Holding) Ltd and its subsidiaries ("SFL") for the approximate value of £3.77 million.
SFL develops, manufactures and markets savoury taste solutions, including flavours, seasoning compounds, marinades and sauces specialising in snacks and convenience foods. SFL has a development, manufacturing and marketing site in the UK, and a wide customer base including food manufacturers and private labels manufacturers in the UK and in emerging markets.
Frutarom President and Chief Executive Officer, Ori Yehudai said "After five acquisitions completed in 2011, Frutarom is opening 2012 with an additional acquisition, which continues to strengthen its activities in the savoury segment in Europe and in developing markets. This is an additional step towards strengthening Frutarom's position in the UK market, where Frutarom is currently a leading sweet flavours manufacturer".
This is the second corporate transaction Mishcon has advised on in the last five months for this acquisitive company.
The Mishcon team was led by corporate partner Dean Poster and assisted by corporate lawyer Niki Stephens.