FLAVOUR company Frutarom, which has a base in the Tees Valley, has bought out another UK firm in a £3m deal.
Frutarom Industries Ltd has acquired East Anglian Food Ingredients (EAFI) which makes flavours and seasoning compounds.
Frutarom is a worldwide company with development laboratories and production facilities in the US, Switzerland, Germany, China, South Africa, Turkey and Israel, as well as the UK where it has a base in Belasis Avenue, in Billingham.
It also has sales and distribution facilities in other European countries, the Far East and South America.
Frutarom was helped in the deal by expert lawyers from North-East firm Dickinson Dees.
The president and chief executive officer of Frutarom, Ori Yehudai, said: “The acquisition of EAFI will allow Frutarom to widen its global customer base via a stronger entrance into the UK market.”
l BUSINESSES in the construction sector still have time to enter an awards ceremony honouring the best in the industry.
The closing date for entries for the Constructing Excellence in the North-East Awards is Friday.
More than 500 people from across the industry are expected to attend the event, one of the largest functions on the North East construction calendar, which takes place at the Newcastle Marriott Gosforth Park Hotel on Friday, May 13.
The regional awards will also see the winners put through to the national Constructing Excellence Awards later in the year.
Details of the awards, as well as sponsorship opportunities, are available from event manager Leanne McAngus on (0191) 3740233 or by visiting www.cene.org.uk/awards.
l THE future for post office businesses in the region is starting to look brighter for the first time in months.
Confidence dips in the market are finally over which has brought an end to the uncertainty in the market of people considering taking over post offices.
That’s the view of experts at Christie and Co which provides services to companies in the hospitality, licensed, retail and care markets.
Head of retail Andrew Birnie said: “Post offices continue to play a key role in community life — particularly those where a post office counter is housed in a convenience store or newsagents, which offers the local community a range of products.
“The introduction of an increasingly broad range of services should help independent operators to increase customer numbers and drive retail sales. We have completed a number of post office-related deals over the last 12 months, and expect this positive trend to continue throughout 2011.”