Business
TURPAZ INDUSTRIES ACQUIRES U.S. FLAVOR AND FRAGRANCE COMPANY PHOENIX FOR $95 MILLION
Turpaz Industries Ltd. (TASE: TRPZ), a global company that develops and manufactures flavors and fragrance, intermediates and specialty fine ingredients and markets and sells them in more than 90 countries around the world, announced today that its wholly-owned U.S. subsidiary Klabin-Turpaz, Inc., has signed and closed an agreement to acquire 100% of the share capital of Phoenix Flavors & Fragrances Inc. ("Phoenix"), a U.S.-based developer and manufacturer of fragrance and flavor extracts, from
About this update from Klabin Sa
[{"type":"text","content":"Acquisition Establishes Full-Scale U.S. Operational Platform; Combination with Turpaz's Existing Klabin Operations Expected to Drive Significant Synergies","length":158,"tagName":"p"},{"type":"text","content":"CAESAREA, Israel, May 3, 2026 /PRNewswire/ -- Turpaz Industries Ltd. (TASE: TRPZ), a global company that develops and manufactures flavors and fragrance, intermediates and specialty fine ingredients and markets and sells them in more than 90 countries around the world, announced today that its wholly-owned U.S. subsidiary Klabin-Turpaz, Inc., has signed and closed an agreement to acquire 100% of the share capital of Phoenix Flavors & Fragrances Inc. ("Phoenix"), a U.S.-based developer and manufacturer of fragrance and flavor extracts, from a U.S. private equity fund (the "Seller"), for $95 million, plus up to an additional $5 million contingent consideration based on Phoenix's performance during the second and third quarters of 2026. The transaction was finalized on the day of closing and financed entirely from Turpaz's own resources.","length":883,"tagName":"p"},{"type":"image","alt":"Turpaz Logo","displaySize":"","headline":null,"caption":"Turpaz Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":88,"url":"https://media.zenfs.com/en/prnewswire.com/46a316b6762deaae7686d4eb9c9e876e"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/fzOCiVP2Cu1IjDnSNyjF_g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE1NQ--/https://media.zenfs.com/en/prnewswire.com/46a316b6762deaae7686d4eb9c9e876e","width":400,"height":88}}},{"type":"text","content":"Karen Cohen Khazon, Chief Executive Officer of Turpaz Industries, said, "We welcome the Phoenix team and its highly experienced management team to the Turpaz Group. The acquisition of Phoenix marks an important strategic step for Turpaz and significantly strengthens our presence in North America – one of the most important flavor and fragrance markets in the world. By integrating Phoenix with our existing U.S. Klabin operations, we are creating a full-scale operational platform in the U.S., spanning development, production, marketing and sales, in both the fragrance and flavor sectors, that we believe will support our continued growth in the region. We expect meaningful synergies from combining the two businesses, bot...