Frutarom offers 31,000 different products to 30,000 industrial customers in 160 countries. Photo courtesy of Frutarom

In May, Israel’s Frutarom was purchased for $7.1 billion by US firm International Flavors & Fragrances (IFF), making it the second largest purchase of an Israeli company after Intel’s $15 billion acquisition of Mobileye in 2017. Frutarom, which makes flavors and fragrances for the food, beverage and pharmaceutical industries, was one of two large buy-outs in 2018.

In August, beverage and snack giant PepsiCo purchased Israeli company SodaStream for $3.2 billion. SodaStream makes home beverage carbonation systems sold in 46 countries.