Israeli company Frutarom has purchased Irish food ingredients firm Redbrook for €40m, it has been announced.
Frutarom is one of the world’s ten largest companies in the field of flavors and specialty fine ingredients. Redbrook was founded in 1987 and has an R&D and sales and marketing center and a production site near Dublin, as well as a production unit and R&D and sales and marketing center in Daventry, England, near Frutarom’s site at Wellingborough. 39 people are employed at Redbrook and its chief executive Kieran Fox will continue in his role and will join Frutarom’s flavours management team.
Redbrook’s main activity is the development, production and marketing of specialty savory taste solutions, which includes seasoning and functional blends, marinades, glazes, cures and specialty ingredients for food processors.
The purchase agreement includes a mechanism for an additional consideration based on Redbrook’s future business performance. The transaction was financed through bank debt.
“This is an important acquisition in establishing Frutarom’s standing as one of the world’s largest and leading companies for flavours, and strengthens its presence and position as a top global producer of natural, healthy and innovative savoury taste solutions,” chief executive Ori Yehudai said.