Israel’s Frutarom flavor technology company’s appetite continues to grow with the announcement Thursday of the purchase of the American flavor company Hagelin and its affiliate NRC Operating Company for $52 million.
It is Frutarom’s third buy-out of a foreign company in a month and counters the trend of American companies purchasing Israel high-rech startups.
Frutarom recently bought Russia’s Protein Technologies, a savory and seasoning compounds company, and Guatemala’s Aroma.
The Israeli firm said that the purchase of Hagelin will help expand its product line and introduce advanced technology to its operations.
Hagelin’s markets extend form the United States to Britain Central and South American, and Africa.Jewish Press News Briefs