US$20 million for FoodTech International
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.
Related news
Related news
Tens of millions with one opening tab – the biggest prize draw in XIXO history has started
This summer, XIXO is preparing for a bigger launch than…
Read more >Auchan Placc refilled – fresh offer and affordable prices on EFOTT!
Auchan Placc is opening its doors at EFOTT for the…
Read more >Hungary’s first PRIMA food OUTLET store opens
Vörösvár Kft. has opened a new chapter in the domestic…
Read more >