Frutarom Industries has signed an agreement for the acquisition of the UK company Savoury Flavours for S$ 5.88 million (£3.77 million).
SFL grew at a fast rate of 28% from a turnover of approximately US$5 million (£3.2 million) over the twelve months ending on September 30, 2010, to turnover of approximately US$6.6 million (£4.1 million) for the same period ending in 2011.
Founded in 1999, SFL develops, manufactures, and markets savory taste solutions (the non-sweet taste spectrum), including mainly flavors, seasoning compounds, marinades and sauces, specializing in snacks and convenience foods.
SFL has a development, manufacturing and marketing site in the UK, and a wide customer base including food manufacturers and private labels manufacturers in the UK and in emerging markets.
SFL's production site is located close to EAFI's production site (acquired by Frutarom on February 1, 2011), which manufacturers savory products as well.
The geographic proximity, along with the two companies' complimentary product portfolio, will allow significant business synergies between SFL and Frutarom's savory activities throughout the world.