Frutarom Industries Ltd., one of the world’s 10 largest companies in the field of flavors and natural specialty fine ingredients, and announced that it has purchased 100% of the shares in the Israeli company, I.B.R – Israeli Biotechnology Research Ltd. for approximately $21 million.
Frutarom projects a continued accelerated profitable growth for IBR products, which will also be supported by the various cross selling opportunities facilitated by this acquisition.
Established in 1995, IBR researches, develops, manufactures and markets innovative and proprietary natural active ingredients for the cosmetics and dietary supplements industries, mainly for cellular and skin anti-aging, skin protection from UV rays and air pollution, skin whitening and pigmentation prevention.
IBR has R&D labs and a production facility in the town of Yavne, and it employs approx. 30 employees, many of them with advanced academic degrees and a long-standing industry experience. IBR has a broad customer base, in the U.S., Europe and Asia, including some of the world’s leading cosmetics and personal care companies. IBR has a strong pipeline of new products which were developed in recent years, some are scheduled to be launched by the end of this year and will contribute to accelerating IBR’s profitable growth.
IBR’s researchers will be joining Frutarom’s global R&D teams working on Frutarom’s natural active ingredients, and will support the accelerated development of future innovative products.