JTA NEWS
19 November 2017 - 2 Kislev 5778 - ב' כסלו ה' אלפים תשע"ח
JTA NEWS :
Frutarom acquires Vietnamese company WFF E-mail

Israeli flavours and natural specialty fine ingredients company Frutarom Industries Ltd announced recently that it has acquired 60% of the Vietnamese company Western Flavors Fragrances Production (WFF) for US$1.3 million.

The purchase agreement includes an option to purchase the balance of WFF shares within four years from completion of the transaction, at a price based on the future business performance of WFF. The transaction, to be financed through independent means, will be completed soon. WFF has annual sales of US$1.5 million. This is Frutarom’s third acquisition in 2017 – it has already bought the French company Rene Laurent for US$23.5 million.

WFF was founded in 2003, has 44 employees, and develops, produces and markets flavours, mostly sweet flavours, with an emphasis on dairy, beverages, confectionery and baked goods. The company has a broad portfolio of products and around 300 customers from among the leaders in their fields in Vietnam. WFF has a plant and laboratory in Ho Chi Minh City and a sales and a marketing office in Hanoi. Frutarom intends to build a modern new flavours plant in Ho Chi Minh City that will enable it to significantly expand its activity in the Vietnamese market and in the growing countries of the region.

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