Gadot Acquires Pharmline Holding

Israel-based food ingredient producer Gadot Biochemical Industries Ltd. (Gadot) had acquired 85 percent of Pharmline Holding, Florida, N.Y., USA (Pharmline) shares.

Pharmline is a private company which is engaged in processing and marketing of ingredients and premixes to the nutraceuticals market in North America. Its headquarters and production site are located in Florida, NY. Pharmline's revenue in 2006 was approximately US$37 million. The deal is expected to be completed by the end of June, 2007.

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