Turpaz acquires Phoenix Flavors & Fragrances

Turpaz Industries acquired Phoenix Flavors & Fragrances Inc. from SK Capital Partners for USD 95 million, in a transaction that expands its portfolio of companies focused on flavors and fragrances. Turpaz, a company based in Israel, will incorporate Phoenix as part of its global platform of solutions for different industries.

Phoenix Flavors & Fragrances, headquartered in Norwood, New Jersey, United States, develops customized flavor and fragrance solutions for the food, beverage, personal care, and industrial sectors. Its integration will allow Turpaz to strengthen its presence in North America and expand its global capabilities in the flavors and fragrances market.

During its period under SK Capital’s ownership, Phoenix recorded growth through the strengthening of its management team, the expansion of its organizational structure, and improvements in production and operating systems. These advances prepared the company for a new phase of expansion within the Turpaz group.

The transaction also seeks to complement Turpaz’s global network and technical expertise, with the goal of expanding its offering for current customers and opening new business opportunities. For Phoenix, the integration represents a relevant step toward accelerating its growth and leveraging additional capabilities in innovation, development, and market service.

In the transaction, Cascadia Capital served as financial advisor to SK Capital and Phoenix, while Kirkland & Ellis acted as legal advisor. On Turpaz’s side, Stifel, Nicolaus & Company served as financial advisor and OlenderFeldman as legal advisor.