Frutarom made the acquisition through its US subsidiary, and the deal will expand its business in US, which is an important strategic market. Frutarom said that Abaco has hundreds of customers worldwide, and that Frutarom planned to exploit the cross-selling possibilities to sell its own products to new customers through Abaco and expand into new markets.
Abaco was founded in 1989 and had $3.2 million in sales in 2006. The company will be integrated into Frutarom's US subsidiary.
Last month, Frutarom acquired Adumim Food Additives Ltd. for $4.25 million.
From the July 16, 2007, Prepared Foods e-Flash