Frutarom Industries Ltd. has acquired Oxford Chemicals Ltd., a UK-based producer of ingredients for the flavor and fragrance industry, in a deal valued at approximately $12 million. Frutarom contends that Oxford, which was established in 1973 and employs 70 people, is highly synergetic with its global fine ingredients division, which has laboratories and production facilities in the U.S., UK, Switzerland and Israel. Oxford has a pipeline of innovative products with emphasis on natural flavors, according to Frutarom. The firm’s management will join the management team of Frutarom’s Fine Ingredients Division.
“Frutarom will act immediately to integrate Oxford’s activity with that of Frutarom’s Fine Ingredients Division while realizing and utilizing the extensive commercial and operational synergy that exists between Frutarom’s operations and Oxford’s operations in order to take maximum advantage of the cross-selling opportunities and achieving maximum cost savings,” said Ori Yehudai, president and chief executive officer of the Frutarom Group.