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Frutarom Industries acquires US flavors company Hagelin & Co.
1:57 AM MST | December 12, 2013 | Natasha Alperowicz
Frutarom Industries (Haifa, Israel), the flavors and specialty ingredients company, announced today that it has acquired Hagelin & Co. (Branchburg, NJ) for $52.4 million in cash to expand its product portfolio in the area of soft drinks and other beverages. The acquisition was financed through short-term bank financing, Frutarom says. Hagelin develops, produces and markets flavors and flavor technologies for the food industry, with emphasis on beverage flavors. Hagelin's sales in 2012 reached $24.2 million, 7% up on 2011. It employs 84 people...
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