February 7/Haifa, Israel/PRNewswire -- Frutarom Industries Ltd. signed an agreement for the acquisition of the Brazilian Mylner Indústria E Comércio, in return for approximately $15.7 million. Mylner develops, manufactures and markets flavor solutions, focusing mainly on sweet flavors for beverages and baked goods, and natural flavor products. Mylner has a modern development, production and marketing site in the area of Sao Paulo, Brazil, including land for future expansion, and employs some 70 workers. Mylner's wide customer base includes food manufacturers mainly in Brazil, and in other developing countries in Latin America.
Mylner’s sales turnover has increased over the last four years by 43%, from revenues of 13.2 million BRL ($6.8 million) in 2007 to revenues of 19 million BRL ($11.4 million) in 2011. Over the last year, Mylner's sales turnover grew by 8%.