LONDON: Bank Leumi (UK), the multi-specialist London-based subsidiary of Israel’s international bank, has closed a £14.75 million loan to leading global flavours and natural fine ingredients company, Frutarom. The deal finances the acquisition of UK-based flavours company, Flavors & Essences (UK) Ltd.
Listed on the London and Tel Aviv Stock Exchanges, Frutarom Industries Ltd. maintains significant production and development centres on all six continents and markets and sells over 70,000 products to more than 30,000 customers in over 150 countries. Frutarom’s products are intended mainly for the food and beverages, flavour and fragrance extracts, pharmaceutical, nutraceutical, health food, functional food, food additives and cosmetics industries.
Shalhevet Mandler, Head of Commercial Finance at Bank Leumi (UK) commented: “We are a relationship bank by nature, we’re always keen to support clients as they develop, so we’re pleased to support the company once more as it continues its expansion.”
Ori Yehudai, President & CEO at Frutarom, said: “The strategic acquisition forms a crucial continuation of our successful, rapid and organic growth strategy. Just as we’ve grown substantially in recent years, so have our requirements for loan facilities – and yet again Bank Leumi has delivered.” [Ends]
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About Bank Leumi (UK) and Bank Leumi Group
Bank Leumi (UK) is a UK-regulated bank offering a wide range of corporate and commercial banking services to both UK based and international clients. An integral part of the Bank Leumi Group founded in London in 1902, the Bank operates through its Head Office in London and its award winning Asset Based Lender subsidiary, Leumi ABL in Brighton. Activities include commercial finance, trade finance, with a particular expertise in financing cross border trading, commodity finance, financing Israeli related business, media finance, property finance and hotel finance.
Bank Leumi (UK) is a subsidiary of the Leumi Group, one of Israel’s largest banking groups and a reputable global banking institution. The Group operates over 230 branches across Israel, alongside offices in key financial centres worldwide. The Group offers a comprehensive range of specialised financial services.
Bank Leumi (UK) plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority