It may be a new year, but Frutarom's growth strategy continues as it did in 2015 and the year before that, and the year before that. In fact, this week Frutarom made its 29th acquisition in the past five years with the purchase of Grow Company Inc., a Ridgefield, NJ-based biotechnology company. The purchase price was $20 million. Grow Company makes natural specialty ingredients for food and health products. The purchase agreement also includes future considerations, based on the company’s business performance during the next year, according to Frutarom.
 

“The acquisition of Grow brings to Frutarom advanced R&D capabilities as well as some major customers,” Ori Yehudai, CEO and president of Frutarom Group, said in a prepared statement. “Thanks to Frutarom’s proven experience in successfully carrying out acquisitions and realizing the synergies arising from combining the acquired activity with Frutarom’s activity and the many cross-selling opportunities, we are convinced this acquisition, too, will contribute towards Frutarom’s continuing rapid and profitable growth and generate high value for our customers, employees and investors.”
 

Grow, founded in 1977, has a research and development and marketing center, as well as a production site, in New Jersey.
 

The company’s owners, as well as its CEO and chief science officer, will join Frutarom management in its Specialty Fine Ingredients Division, the company said.