At what enterprise value was FRUTAROM acquired in 2018?

During the acquisition of FRUTAROM by INTERNATIONAL FLAVORS & FRAGRANCES (IFF) in 2018, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b USD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the AgriFood industry currently tracks an average EBITDA multiple of 10.3x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of FRUTAROM when it was acquired by INTERNATIONAL FLAVORS & FRAGRANCES (IFF)?

The estimated EV/EBITDA multiple for FRUTAROM is in the range of 15x - 25x. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.3x. Join our community for free to access full valuation data and industry trends.

What was the revenue of FRUTAROM at the time of the deal?

The revenue of FRUTAROM at the time of the deal is estimated to be in the range of 1b - 3b USD. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of FRUTAROM during the acquisition?

FRUTAROM's EBITDA is estimated to be in the range of 250M - 500M USD. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the FRUTAROM acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the FRUTAROM deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://ir.iff.com/news-releases/news-release-details/iff-completes-combination-frutarom-establishing-global-leader

← DATABASE

Home Database AgriFoodFRUTAROM

10/2018

FRUTAROM

Acquired by

INTERNATIONAL FLAVORS & FRAGRANCES (IFF)

ISRAEL Food Processing / Ingredients EV 3b - 100b USD

FRUTAROM acquired by INTERNATIONAL FLAVORS & FRAGRANCES (IFF)

ISRAEL Food Processing / Ingredients EV 3b - 100b USD

Context

IFF completed the acquisition of Frutarom in October 2018, creating a unified global leader in taste, scent, and nutrition. The combined company trades under the ticker IFF on the NYSE and Euronext Paris, with a later listing on the Tel Aviv Stock Exchange, while Frutarom’s own listing on the Tel Aviv and London exchanges was delisted. The integration creates a platform with expanded capabilities in naturals, savory solutions, natural colors, food‑protection ingredients, and health‑oriented nutrition, broadening the customer base and increasing exposure to fast‑growing private‑label and SME segments. IFF expects the combination to generate accelerated top‑line growth (5–7% annually) and high‑teens EPS growth on a pro‑forma, currency‑neutral basis between 2019 and 2021, supported by approximately USD 145 million in annual cost synergies by the third full year, achieved through procurement optimization, footprint rationalization, and overhead reduction.

FRUTAROM, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN as high as the average currently observed in the AgriFood sector (10.3x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in AgriFood market trends

Target

Frutarom is a leading global supplier of flavors and fine ingredients, offering products primarily to the food, beverage, flavor, fragrance, pharmaceutical, nutraceutical, and cosmetic industries. The company operates a diversified portfolio across two main activities: the Flavors segment, which develops and produces flavor compounds and food systems, and the Fine Ingredients segment, which focuses on natural flavor extracts, functional food ingredients, natural pharma/nutraceutical extracts, specialty essential oils, citrus products, and aroma chemicals. Frutarom’s manufacturing footprint spans plants in the US, UK, Switzerland, Germany, Israel, China, South Africa, and Turkey, while its sales and marketing network covers more than 130 countries through branches and local agents in five continents.

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Other operations with FRUTAROM

Date	Acquirer	Target	Country	Sector	Deal Context
11/2013	FRUTAROM	PTI (PROTEIN TECHNOLOGIES INGREDIENTS GROUP)	RUSSIA	Food Processing	Frutarom completed the acquisition of 75% of the share capital of PTI with a call option exercisable by Frutarom within three years to acquire the remaining 25%. PTI, which generated about USD 111 million in sales in 2012, operates two production sites near Moscow and a Moscow‑based R&D, sales, and marketing hub plus 25 distribution centers across Russia and neighboring countries, making it a regionally strategic platform in the savory and processed‑meat ingredients segment. The founders and key managers retain management roles and minority equity stakes, ensuring continuity and cultural alignment, while Frutarom leverages PTI’s assets to expand its savory‑flavor and functional‑ingredients range, strengthen its production and distribution infrastructure in Russia, and deepen its position in both developed and emerging markets. Synergies are expected to arise from cross‑selling, shared R&D, and joint product development, as well as from rationalization of certain supply‑chain and logistics activities, consistent with Frutarom’s broader strategy of being a preferred global partner in tasty and healthy food solutions.

REFERENCES

Valuation range: EV 3b - 100b USD

Revenue range: 1b - 3b USD

EBITDA range: 250M - 500M USD

Note: Detailed and exact financial metrics (Enterprise Value, Revenue, EBITDA, and precise Multiples) are reserved for Mynth community members. Register for free to unlock full data.

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).