US$20 million for FoodTech International

By: trademagazin Date: 2008. 11. 18. 00:00

The buyer is the Nestle and Osem consortium. Last year FoodTech has sales of US$14.6 million. For the first three quarters of 2008 the company reported sales of US$15.4 million.

Jerusalem-based
Osem, which is part-owned by Nestle, said yesterday its subsidiary
Tivall Min Hatsomeach Ltd will acquire US-based FoodTech
International, a producer of vegetarian food goods.
Nestle will
contribute US$9.4 million for FoodTech’s intellectual property
rights, while Tivall will put in US$10.6 into the deal for the
company’s operations.
Nestle owns 54% of Osem, a food producer
that sells products into both Israeli and foreign markets. Tivall
producers meat substitute and vegetarian products.