Frutarom will boost its turnover to more than $1bn within the next three years by continuing to acquire up to 10 new businesses each year, the firm’s chief executive for health said.
The international food flavour and fragrance house has spent between $5M and $50M on individual acquisitions over the past five years to become the largest food ingredients firm, Holger Riemensperger told Food Ingredients, Health & Nutrition at Vitafoods Europe in Geneva last month (May).
“Our turnover is currently $850M and we’re looking to expand our presence in the functional food sector,” he said.
Frutarom, which now has more than 2,500 employees across Europe, Latin America and Australia, recently acquired the natural rosemary extraction company Vitiva as part of the firm’s plans to buy up to 10 new businesses every year, Riemensperger said.
“With each new acquisition, we significantly increase our customer base and portfolio,” he explained. “It’s a very quick way of growing a company’s presence and reach. Since starting on the trajectory towards a $1bn turnover, we have grown our presence in the ingredients sector by 50%.”
The firm’s Switzerland operations recently launched a new ‘superberry’ ingredient derived from the inca berry (pictured), which is rich in vitamin B, proteins and minerals, such as iron, zinc and phosphorus. It is also known as the golden berry.
“This is an example of us targeting the functional food sector,” Riemensperger added.
Frutarom’s product manager, Yannick Capelle, said: “This is part of the company’s strategy to serve the functional product market through our group synergies and goals.”