date:May 31, 2012
and net profits.
After seven acquisitions in 2007, and three in 2009, all of which have been successfully integrated with Frutaroms global activities and contribute to both a growth in sales and improved margins, we continued to implement strategic acquisitions and completed five acquisitions in 2011 and an additional three at the beginning of 2012. The scope in revenues from the last eight acquisitions made, based on 2010 figures, stood at $145 million. The acquisitions, whose value is yet to