Frutarom
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| Frutarom Industries Ltd. | |
|---|---|
| Type | Public TASE: FRUT |
| Founded | 1933 |
| Headquarters |  Israel |
| Key people | Ori Yehudai , President and CEO |
| Industry | Flavors and Fragrance |
| Products | Flavors and Fragrances |
| Revenue | $ 243.8 million (2005) |
| Employees | 1154 |
| Website | www.frutarom.com |
Established in 1933, Frutarom is a rapidly growing global flavor and fine ingredients company and is numbered among the ten leading companies in the world, in the field of flavors & fragrances.
Frutarom creates, develops, manufactures and markets an extensive variety of high quality flavors and fine ingredients for customers in the food, beverage, functional food, flavor, fragrance, pharmaceutical, nutraceutical, and cosmetic industries. Frutarom markets and sells over 20,000 products to more than 10,000 customers in 120 countries, has 25 R&D labs and 45 sales and marketing offices throughout the world and operates 18 production facilities in Europe, North America, Israel and Asia. Frutarom employs 1,500 employees worldwide.
Frutarom Industries Ltd. is a public company whose stock is listed on the Tel Aviv and London Stock Exchanges. As of January 1, 2003 Frutarom was included in the Tel Aviv 100 Index.
Frutarom operates through two divisions: Flavors Division (constituting some two thirds of the company's sales volume) which develops, produces and markets flavors, savory solutions, seasonings and food systems.
Fine Ingredients Division, which develops, produces and markets natural flavor extracts, functional food ingredients, natural pharmaceutical/ nutraceutical extracts, specialty essential oils, citrus products and aroma chemicals.
The company is headed by its President & CEO, Mr. Ori Yehudai.
[edit] History
Established in 1933, Frutarom Palestine Ltd., as it was initially known, combined the cultivation of aromatic plants and flowers with the extraction and distillation of flavors, fine ingredients and essential oils. The company's foundation was promoted by Professor Haim Weizman, the first President of the State of Israel and a known chemist. In 1952, the Company's assets were purchased by Electrochemical Industries (1952) Ltd. ("EIL"), an Israel-based industrial chemicals manufacturer, resulting in Frutarom becoming a division of EIL. In 1973, ICC Industries, an international industrial holding company based in the United States, acquired ownership of EIL. In May 1996, the Company was spun off from EIL, becoming a public company listed on the TASE. ICC Industries remained its controlling shareholder following the spin off. The Company was added to the TA100 Index of the TASE on 1 January, 2003 and in 2005 became listed on the London Stock Exchange. During the mid-1980s, Frutarom came under new management and adopted a strategy aimed at increasing the Company's operations worldwide, in order to become a major multinational flavor and fine ingredients company. In the late 1980s, Frutarom made a strategic decision to expand its growth through acquisitions. In 2006 Frutarom achieved an impressive milestone and became one of the 10 largest global flavor & fragrance companies. Frutarom has grown dramatically, organically and via key acquisitions Frutarom made three acquisitions in the early 1990s, in the U.S., U.K. and Israel. In 1993, Frutarom made its first substantial strategic acquisition by acquiring Meer Corporation in the U.S., a producer of botanical extracts and natural gums, providing Frutarom with a foothold in the United States. Between 1997 and 1998, Frutarom made a strategic decision to penetrate several emerging markets and established local subsidiaries. Today Frutarom has local subsidiaries in: China, Russia, Ukraine, Belarus, Romania, Turkey, Kazakhstan and Mexico. From 1999 to the present day, Frutarom has continued to execute its strategy of acquisition-led growth by acquiring companies and businesses that complement and enhance the Company's core business activities, as well as continuing its focus on internal growth. Frutarom's business acquisitions criteria support its vision to be "The Preferred Partner for Tasty and Healthy success", through the unique position of combining great taste and healthy, innovative, comprehensive solutions. Acquisitions during this period included: Baltimore Spice Israel Ltd, an active producer and vendor of seasonings and seasoning compounds (1999) ;CPL Business - the industrial flavors division of Rayner & Company (2001); Emil Flachsmann AG, a Swiss-based company established in 1935 that develops, produces and markets flavors and fragrances to the food industry, as well as botanical extracts for the flavor, fragrance, pharmaceutical, nutraceutical and functional food industries (2003) ; Fruit Preparations business in Germany and Switzerland of International Flavors & Fragrances, Inc. that develops and produces unique compounds of fruit and other natural ingredients used as natural flavorings in a wide variety of food products and U.S. A.M. Todd Botanical Therapeutics that reinforced Frutarom's flavor extracts' capabilities and market leadership position, as well as assisting Frutarom's growth in the US market (2005). In 2006 Frutarom acquired GewurzMuhle Nesse, an international group specializing in savory solutions founded in 1880. This acquisition served to significantly strengthen Frutarom's technological capabilities and savory offering, as well as its market position in both West and East Europe, as a leading flavors supplier. It also increased activities in additional countries where Frutarom has been less active, such as Poland, the Czech Republic, Latvia and Yugoslavia. Acatris Health, a recognized innovative developer and supplier of natural botanical health ingredients for the dietary supplement, functional food and cosmetic industries, was also acquired during 2006. In 2007 Frutarom made 7 strategic acquisitions, among them: (1) Belmay - Leading British flavor house that develops, produces and markets flavors, with a particular focus on natural flavors for the food and beverage industry. Belmay added further subsidiaries in Singapore, Norway and Denmark, thus cementing Frutarom's position as a principal flavor house in the British market. (2) Reyhan - Israeli-based company that develops, produces and markets flavor compounds and ingredients for the food industry. (3) Adumim Food Additives Ltd. - Israeli-based company, a developer and producer of unique fine ingredients for the food and functional food industries, responsible for instilling the final product with flavor, color, texture, a long shelf life and beneficial health qualities. (4) Gewurzmuller GmBh - Producer of unique and innovative savory solutions, including flavors, seasoning compounds and functional ingredients for the food industry, with special emphasis on processed meats and convenience foods, and (5) Blessing BioTech - Producer of starter cultures (natural products based on microbiological processes, mainly the fermentation of microorganisms and enzymes used to manufacture food, especially meat, dairy and baked goods). The growth achieved in 2007 resulted in Frutarom receiving the 2007 Frost & Sullivan award for the fastest growing company in its field. As part of the company's strategic plan to create innovative, comprehensive solutions for its customers by working together closely with them, Frutarom inaugurated its new Innovation Center in 2007.
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