Frutarom acquires flavors company René Laurent of France

René Laurent sales in the 12 month period ending March 2017 totaled US$ 13.2 million

Frutarom Industries Ltd. (“Frutarom”), one of the world’s 10 largest companies in the field of flavors and natural specialty fine ingredients, continues its momentum of acquisitions and the implementation of its rapid and profitable growth strategy: The Company announced that it signed an agreement for the purchase of René Laurent of France with activity also in Morocco as well as natural extracts activity known as BFA (“René Laurent”) for approx. USD 21.3 million (Euro 20 million). The transaction was completed upon the signing of the agreement and was financed through bank debt.

Rene Laurent estimates its sales volume in the 12 month period ended March 2017 as having amounted to approx. USD 13.2 million (approx. Euro 12 million).

Founded in 1885 and with a very longstanding reputation as one of the world’s oldest companies in flavors and specialty fine natural ingredients, René Laurent engages in the development, production and marketing of flavors and natural extracts. René Laurent has two production sites (one focusing on sweet flavors and the other on savory flavors), and an R&D center near Cannes, in Grasse, France, an area at the heart of the French flavors industry, plus a production site near Casablanca, Morocco, where natural herbal extracts activity is carried out for both the field of natural flavors and the field of antioxidants for food protection. René Laurent has a broad customer base in Europe, mainly in France, as well as in French speaking countries in Africa such as Morocco, Cameroon and Ivory Coast, and in Asia. René Laurent has approximately 100 employees. René Laurent’s activity is synergetic with Frutarom’s activity in the field of flavors which has grown in recent years at a much faster rate than the market, as well as with Frutarom’s activity in natural extracts which is directed towards the areas of both natural flavors and food protection.