The U.S.-based International Flavors & Fragrances (IFF) firm is buying Aromor Flavors, half-owned by Kibbutz Givat Oz, which is located southeast of Haifa.
Former executives ion the Makhteshim phosphates and chemical giant own the other half of Aromor, which manufactures and markets specialty ingredients that are used in fragrances and flavors.
“We expect Aromor, with its strong R&D capabilities, to provide us with cost-effective, quality materials to use in our formula creations and external sales,” IFF Chief Executive Officer Doug Tough said.
Aromor is a supplier for IFF, and both management teams have worked with each other for years.
Aromor was founded in 1982 and has approximately 90 employees, approximately 20 of whom are members of the kibbutz.
The purchase stipulates that the Kibbutz operation will remain at Givat Oz for at least 15 years.
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