Frutarom purchases RAD
This article was originally published in The Tan Sheet
Executive Summary
In its seventh acquisition this year, Israel-based Frutarom Industries will pay $4.1 million in cash for RAD Natural Technologies, which develops, manufactures and distributes plant extracts for use in food, dietary supplement and cosmetic products, according to a Nov. 21 release. The agreement includes an earn-out mechanism for future payment to RAD if Frutarom's accumulated sales of its products in 2008 and 2009 exceed $4 million. The payment will be capped at $4.9 million if the sales products exceed $11.1 million in those years...