Mishcon de Reya advised Frutarom Industries Ltd (Frutarom) on acquiring Taura Natural Ingredients Holding Ltd (Taura), a leading global player in speciality taste and fruit technology. This was Frutarom's seventh acquisition this year, for a cash payment of approximately US$70 million.
Frutarom is one of the world's largest companies in the field of flavours and specialty fine ingredients. Its newly acquired Australian firm, Taura, is a world leading player in concentrated and texturized fruit ingredients, possessing efficient state-of-the-art manufacturing facilities in New Zealand and Belgium along with sales offices in the United States and in the UK. Taura's sales over the 12 months reached approximately US$40 million.
Mishcon de Reya put together an international team of independent law firms and drew on the expertise of its Legalink network partner firms - Piper Alderman in Australia and Lowndes in New Zealand. The Mishcon team was led by Corporate Partner Dean Poster assisted by Solicitor Daniel Goldsborough. Specialist finance advice was provided by Partner Raji Barlett.
Dean Poster commented: "We have acted for Frutarom - an incredibly acquisitive company – on a number of its recent deals, and were pleased to advise them on its latest cross- border acquisition. We worked seamlessly with our Australian and New Zealand colleagues, who are valued members of our Legalink network."
Ori Yehudai, President and CEO of Frutarom Group, commented: "The acquisition of Taura, a global leader in taste and fruit solutions, is the continuation of Frutarom's implementation of its rapid growth strategy and the realisation of its vision 'to be the preferred partner for tasty and healthy success.' This acquisition continues to solidify Frutarom's position as one of the world's top companies in its field and reinforces its presence and standing as a leading global producer for natural flavour and fruit solutions."