Yesterday, Turpaz Industries, an Israeli-based company specializing in flavor and fragrance extracts, has acquired 100% of the share capital of British firm Flavors and Essences (F&E) UK for £22 million (US$28.85 million) from International Flavors and Fragrances. This strategic acquisition marks another significant milestone for Turpaz as it expands its presence in Europe, bolstering its global footprint in the flavor market.
F&E develops and markets flavor extracts for a variety of products, with a customer base spanning the UK, Europe, and Asia. The company employs 50 people, including a sales team in Belgium, and has strong ties to European markets.
Turpaz Chairperson and CEO Karen Cohen Khazon highlighted the strategic importance of entering the British market, which, with a population of over 70 million, presents significant growth potential. The company plans to leverage synergies between F&E and its other subsidiaries to expand its product offerings and enhance cross-selling opportunities.
This acquisition is part of a broader expansion strategy for Turpaz, which has completed two other acquisitions this year, including Sunspray in South Africa and the Clarys & Willich group in Belgium and Germany. Since going public in May 2021, Turpaz has acquired eleven companies and now operates 17 production sites and R&D centers across 60 countries, serving over 3,000 customers.
The purchase strengthens Turpaz’s position in the global flavor market and is expected to open up new growth avenues for the company.
