14 December 2015
Founded in 1947, Wiberg now ranks
as a top international group in its field,
boasting a superb reputation and strong brand name
in the specialty and innovative savory solutions
(the non-sweet spectrum of flavors) that include
flavor extracts, seasoning blends and functional ingredients
for the food industry, with special emphasis on
processed meats and convenience foods
as well as activity focused on innovative culinary solutions
for restaurants, catering firms and chefs
which constitute an interesting and distinctive premium market.
Wiberg employs some 670 personnel throughout the world
and operates five production sites, the largest of which
is a modern and efficient state-of-the-art facility in
with extensive production capacity and
substantial room for expansion, and
in
Wiberg headquarters in
a modern R&D center and advanced laboratories.
The company has sales and marketing platforms
in some 70 countries, with a presence
in
Wiberg's broad customer base encompasses
thousands of food manufacturers,
including some of the top in their fields.
DETAILS
continues its momentum of acquisitions and implementation
of its rapid and profitable growth strategy:
The Company announced today (Monday)
the signing of an agreement
for the purchase of 100% of the shares of
in a Canadian subsidiary and
51% ownership share in a Turkish company)
(collectively: "Wiberg")
for approx.
Wiberg sales for 20151 are expected to stand
at approx.
achieving impressive rates of growth
beyond the growth rates of markets in which it operates,
with adjusted EBITDA3 of approx.
The total value of assets acquired stood at
The transaction will be financed using bank debt.
Completion of the transaction is subject to approval
from the German and Austrian antitrust authorities
which Frutarom expects will be granted
at the beginning of 2016.
Wiberg has quality and professional personnel
who will contribute much towards
the successful business integration
between Frutarom and Wiberg and help accelerate
Frutarom's growth in the area of savory.
Wiberg President and CEO,
Mr. Marcus Winkler,
who is third generation to the company's founders and
has led it with great success, will continue providing guidance
to the company in a consultancy capacity
and contribute from his extensive experience
and knowledge towards the successful merging of
the Wiberg and Frutarom businesses.
FRUTAROM SALES
INCLUDING THE ACQUISITIONS
REACH AN ANNUAL RATE OF
RAISES 2020 TARGET TO
WITH CORE ACTIVITY
EBITDA MARGIN ABOVE 22%
Contact Details:
ir@frutarom.com +972‐9‐9603800
WWW.CHEMWINFO.COM BY KHUN PHICHAI
