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Frutarom acquires US flavors company Hagelin

6:19 AM MST | December 13, 2013

Frutarom Industries (Haifa, Israel) has acquired Hagelin & Co. (Branchburg, NJ) for $52.4 million in cash to expand its product portfolio in soft drinks and other beverages. The acquisition was financed through short-term bank financing, Frutarom says. Hagelin’s sales in 2012 reached $24.2 million, up 7% from 2011. The company employs 84 people. Hagelin’s activities will be integrated with those of Frutarom’s flavors business. “Hagelin has distinct competitive advantages and specializes, among other things, in the development of advanced flavor...

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