Frutarom granted loan to acquire flavours company
Bank Leumi, the London-based subsidiary of Israel’s international bank, has closed a £14.75 million loan to global flavours and natural fine ingredients company, Frutarom. The deal will finance the company’s acquisition of UK-based flavours business, Flavours & Essences.
Frutarom’s products are intended mainly for the food and beverages, flavour and fragrance extracts, pharmaceutical, nutraceutical, health food, functional food, food additives and cosmetics industries.
Shalhevet Mandler, head of commercial finance at Bank Leumi, comments, “We are a relationship bank by nature, we’re always keen to support clients as they develop, so we’re pleased to support the company once more as it continues its expansion.”
Ori Yehudai, president & CEO at Frutarom, adds, “The strategic acquisition forms a crucial continuation of our successful, rapid and organic growth strategy. Just as we’ve grown substantially in recent years, so have our requirements for loan facilities – and yet again Bank Leumi has delivered.”