Below is the immediate report submitted today to the Israeli Securities Authority ("ISA") and the Tel-Aviv Stock Exchange through the ISA's electronic submission system in accordance with the Securities Regulations (Periodic and Immediate Reports), 1970.
Frutarom Industries Ltd.
Registration No.: 52-004280-5
The securities of Frutarom Industries Ltd. are listed for trading on the Tel-Aviv Stock Exchange
25 HaShaish St., P.O.B. 10067, Haifa 2611001
Tel: +972-4-846 2401, Fax: +972-4-872 2517, www.frutarom.com
June 13, 2017
Israeli Securities Authority
Tel Aviv Stock Exchange Ltd.
Subject: Completion of Acquisition of 100% of the Shares in the Spanish Company Nutrafur
Frutarom Industries Ltd. ("Frutarom" or the "Company") hereby announces that on June 12, 2017 it purchased, through a subsidiary, 20.92% of the share capital in Nutrafur S.A. of Spain ("Nutrafur"), which deals in specialty natural extracts from plants for the food and health fields, in exchange for approximately USD 2.36 million (approximately Euro 2.1 million) and thereby the Company completed its acquisition of 100% of the shares in Nutrafur. It should be noted that on September 3, 2015 the Company purchased approximately 79% of Nutrafur's share capital. For further information see the Company's immediate report from September 6, 2015.
Nutrafur specializes in the research and development, manufacture, and sales and marketing of specialty natural plant extracts bearing antioxidant properties or scientifically proven healthy qualities and supported by clinical studies for the food, pharma, nutraceutical and cosmetics markets. Nutrafur products have blended in well with Frutarom's portfolio of natural ingredient solutions and are helping Frutarom expand its lineup of natural products for both food and health products. Nutrafur's activity in the field of antioxidants, particularly for food preservation and the extension of shelf life based on natural components, has further established Frutarom's portfolio of solutions in this field which was substantially strengthened following the acquisitions in 2015 of Vitiva and Ingrenat which also have activity in this growing field. For further information on the acquisitions of these companies, see the Company's immediate reports from February 3 and April 26, 2015.
The Company does not view the acquisition of the 20.92% balance of the share capital of Nutrafur as a transaction for the purchase of a material asset.
Tali Mirsky, Adv.
Global VP Legal Affairs & Corporate Secretary
Frutarom Industries Ltd.
This information is provided by RNS