Isreali flavours and natural ingredients company, Frutarom, is continuing its acquisitive streak by taking a 60% stake in Thai company The Mighty.
The latest acquisition – its eighth of 2017 – sees the flavours specialist take a majority stake in the Thai business for $12 million.
The deal also includes the activity of Maharaj Food Co. and Mighty International, which will be collectively pooled together under Mighty.
Frutarom will initially acquire 49% of and, subject to regulatory approvals in Thailand, will raise its holdings to 60%.
Mighty’s sales turnover in the 12 months ended August 2017 totalled $15 million.