Israeli flavourings and specialty ingredients company Frutarom said on Sunday it signed a deal to buy 95 per cent of Investissements BSA for $42.75-million dollars, its fifth acquisition this year, as it seeks to expand further into North America and India.
The agreement is expected to be completed in the next few weeks, Frutarom said, noting that the transaction will be financed using bank debt. The deal also allows for the purchase of the remaining balance of shares starting two years from now at a price “conditional on the company’s business.”
BSA, which has a large production site in Montreal, develops and produces flavourings for processed meats and convenience foods. It had sales of $37-million dollars in the 12 months ending August 2014, Frutarom said.
“BSA’s activity in India will contribute towards strengthening and securing Frutarom’s position in the growing Indian market,” Frutarom said.
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