Frutarom Acquires RAD Natural Technologies

Frutarom Industries Ltd., Haifa, Israel, has acquired through its subsidiary Frutarom Ltd., the activity of RAD Natural Technologies Ltd., Petah Tikva, Israel. RAD researches, develops, produces and sells natural plant extracts with antioxidant properties for use in food, dietary supplements and cosmetic products. RAD possesses unique know-how, which is protected by patents, in this field. In accordance with the acquisition agreement, Frutarom acquired RAD’s assets, including fixed assets, inventory, agreements, orders, goodwill, intellectual property and expenses (Frutarom will not assume RAD’s liabilities), in consideration for a cash payment of $4.1 million.