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Enzymotec shareholders approve Frutarom acquisition

Enzymotec Ltd. shareholders approved the previously announced acquisition by Tel Aviv-listed Frutarom Industries Ltd.

Frutarom, a flavors and ingredients maker based in Israel, entered into a merger agreement in October with Enzymotec — also an Israel-based company making specialty lipid-based products and solutions.

Under the deal, Enzymotec stock holders will receive $11.90 for each share, taking the net consideration for the acquisition to about $210 million.

Enzymotec expects the acquisition to be completed mid-January 2018.