06.03.13
Frutarom Industries Ltd. has signed an agreement for the acquisition of the South African flavor company JannDeRee Limited for the sum of $5.2 million. JannDeRee’s sales turnover in 2012 came to approximately $5 million. The transaction was completed at the time of signing.
Founded in 1993, JannDeRee develops, manufactures and markets flavors with an emphasis on savory flavors and sweet flavor solutions. JannDeRee, which has been growing rapidly over the last few years, has an R&D, production and marketing site in Johannesburg, South Africa, located adjacent to Frutarom’s South African site. JannDeRee has a wide customer base in South Africa and in other important emerging countries in the sub-Saharan region such as Malawi, Zimbabwe and Mozambique. The company’s activities are synergetic with Frutarom’s activities in South Africa in the field of flavors, which have grown at rates higher than the rate of market growth over the past few years. Frutarom has recently further strengthened its presence in African markets by adding additional sales personnel in key countries such as Nigeria.
Frutarom will take immediate actions to integrate activities, including R&D, marketing and sales infrastructures, purchase, production and supply. JannDeRee’s management, headed by its managing director, will become part of Frutarom’s management in Africa, and will act jointly to accelerate Frutarom’s growth in the region.
Founded in 1993, JannDeRee develops, manufactures and markets flavors with an emphasis on savory flavors and sweet flavor solutions. JannDeRee, which has been growing rapidly over the last few years, has an R&D, production and marketing site in Johannesburg, South Africa, located adjacent to Frutarom’s South African site. JannDeRee has a wide customer base in South Africa and in other important emerging countries in the sub-Saharan region such as Malawi, Zimbabwe and Mozambique. The company’s activities are synergetic with Frutarom’s activities in South Africa in the field of flavors, which have grown at rates higher than the rate of market growth over the past few years. Frutarom has recently further strengthened its presence in African markets by adding additional sales personnel in key countries such as Nigeria.
Frutarom will take immediate actions to integrate activities, including R&D, marketing and sales infrastructures, purchase, production and supply. JannDeRee’s management, headed by its managing director, will become part of Frutarom’s management in Africa, and will act jointly to accelerate Frutarom’s growth in the region.
