Dublin-based Redbrook has been acquired in a $45 million deal which will position Israeli company Frutarom as a global leader in savoury flavours. The deal includes an earn-out structure which could see further consideration paid depending on Redbrook's future business performance
Ori Yehudai, president and chief executive of flavour and fine ingredients company Frutarom, said: "The acquisition of Redbrook is the continuation of the implementation of Frutarom Group's rapid profitable growth strategy and the realisation of its vision to be the preferred partner for tasty and healthy success."
In what will be Frutarom’s first entry into the Irish market, Mr Yehudai said the acquisition “reinforces our market leadership in the UK” and will give it the “advantages of a global manufacturer having a local R&D, production and sales platform for shortening delivery times and improving service to customers of the region”.
Savoury solutions
Frutarom markets and sells more than 31,000 products to more than 15,500 customers in 145 countries, has 41 R&D labs and 79 sales and marketing offices throughout the world and operates 34 production facilities in Europe, North America, Israel and Asia. Frutarom employs 2,700 employees worldwide.
Founded in 1987, Redbrook employs 39 people in an R&D and sales and marketing centre and a production site in Mulhuddart, as well as a production unit and R&D and sales and marketing centre in Daventry, England.
Its main activity is the development, production and marketing of innovative speciality savoury taste solutions, which includes seasoning and functional blends, marinades, glazes, cures and speciality ingredients for food processors. Redbrook reported sales of some €22.7 million in the 12 months to June 2016.
“Redbrook’s activity is largely synergetic with Frutarom’s global savoury activity and will enable Frutarom to continue expanding and deepening its activity and market share in the UK and Ireland, and reinforce its supply of savoury products while leveraging Redbrook’s specialised know-how and technology,” the company said.
Redbrook chief executive Kieran Fox will continue in his role and will join Frutarom's Flavors activity management.
