Frutarom Industries, an international flavour and ingredients company with development laboratories and production facilities in the US, the UK, Switzerland and Israel, has announced the acquisition of Oxford Chemicals for US$12 million (£8.25 million).

Frutarom Industries, an international flavour and ingredients company with development laboratories and production facilities in the US, the UK, Switzerland and Israel, has announced the acquisition of Oxford Chemicals for US$12 million (£8.25 million).

The transaction was completed through Frutarom’s wholly owned subsidiary, Frutarom (UK) Ltd, and will be funded through bank debt. Frutarom aims to broaden its product offering and customer base through the acquisition of the UK developer, producer and marketer of speciality ingredients for the flavour and fragrance industries. Operational savings will be made through integrating Oxford’s activities with Frutarom’s global Fine Ingredients Division.

Oxford Chemicals has some 70 employees and the management team is expected to remain with the company post-deal. In 2007, Oxford generated operating profit of some US$900,000 on turnover of US$14 million.