Frutarom has brokered its second deal of the year, announcing that it is to acquire a 70 percent share in Argentinian flavors and fragrances group Meroar for US$11.2 million. The agreement includes an option to buy the balance of Meroar’s shares after three years at a price based on the company’s business performance during this period.

“The Meroar acquisition constitutes a significant first entry for Frutarom into Argentina, and is yet another strategic acquisition of an activity in Frutarom’s core field which will enable us to offer our customers a broader range of innovative solutions, and an important step in implementing Frutarom’s strategic plan to develop a worldwide business of fragrances, particularly in emerging markets with high growth rates,” said Ori Yehudai, President and CEO at Frutarom.

The company has now racked up 37 acquisitions since 2013, and shows no signs of slowing down with an ‘outstanding pipeline of further strategic acquisitions’.