Consumer, Food & Retail


Developer and manufacturer of flavors for beverages, dairy products, confectionary, snacks, and convenience foods. Based in Guatemala.

Transaction Overview

  • Represented Aroma in its sale to Frutarom Industries, Ltd.
  • Aroma, a Guatemalan company, is engaged in the development, manufacture and marketing of flavors, mainly for beverages, dairy products, confectionary, snacks and convenience food. Aroma’s wide customer base includes leading global food and beverage manufacturers as well as local food and beverage manufacturers in Guatemala, Honduras, Costa Rica, El Salvador, and additional growing markets, primarily in Central America.
  • Frutarom Industries Ltd. (“Frutarom”, LSE:FRUT) is a market leader in the global flavor and fine ingredients markets. Its products are intended mainly for the food, beverage, flavor, fragrance, pharmaceutical, nutraceutical, health food, functional food, food additives, and cosmetic industries.

Key Observations

  • This highly strategic acquisition will enable Frutarom to strengthen its presence and increase its market share in the significant and growing markets of Central and South America. The deal will also expand Futarom’s product range and enhance its R&D, sales and marketing capabilities.
Hennepin Partners LLC