Israel based flavours and ingredients company Frutarom has acquired 100 per cent of the shares of ingredients company Israeli Biotechnology Research (IBR) for $21 million. The deal follows on from a series of acquisitions that Frutarom carried out last year, including flavour companies Mighty for $11.9 million and Enzymotec for $210 million.
Established in 1995, IBR researches, develops, manufactures and markets innovative and proprietary natural active ingredients for the cosmetics and dietary supplements industries. IBR has research and development laboratories and a production facility in the town of Yavne in Israel, and it employs around 30 people.
IBR’s activity will be joining Frutarom’s existing work in the fields of algae growth and active ingredients extraction. Frutarom drew attention to IBR’s broad customer base in the US, Europe and Asia, which are said to include some of the world’s leading cosmetic and personal care companies.