Turpaz Industries Acquires Flavors and Essences UK (F&E) from IFF for £22M

International Flavors & Fragrances (IFF) Sells Food Ingredients Business to CVC Capital Partners

June 2, 2026

Food & Beverage

IFF has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners for an enterprise value of approximately $4.3 billion (about 10x EBITDA). IFF will retain an approximately 10% minority equity stake and a board seat in the newly formed company, and expects to receive about $3.8 billion in net cash proceeds at closing.

Turpaz Industries Acquires Phoenix Flavors & Fragrances

May 3, 2026

Food & Beverage

Turpaz Industries Ltd. (via its wholly-owned U.S. subsidiary Klabin-Turpaz, Inc.) acquired 100% of Phoenix Flavors & Fragrances Inc. for $95 million, plus up to $5 million in contingent consideration. The acquisition creates a full-scale U.S. operational platform by integrating Phoenix with Turpaz’s existing U.S. Klabin operations and is expected to drive synergies through consolidated production and cross-selling.

Turpaz (via Sunspray) Acquires 60% of Nicola-J

October 1, 2025

Consumer Products

Turpaz Industries Ltd. signed an agreement to acquire 60% of the shares of South African flavor company Nicola-J through its subsidiary Sunspray for USD 6.8 million (ZAR 118.4 million). Completion is expected in the coming months, subject to regulatory approvals in South Africa, with a mutual option for Turpaz to purchase the remaining 40% based on business performance.

Turpaz Industries Acquires Belgian Flavours Manufacturer Doucy

February 27, 2025

Food & Beverage

Turpaz Industries has acquired Belgian sweet flavours manufacturer Doucy for $8.5 million, with an additional contingent payment tied to Doucy's EBITDA through March 2027. The deal includes Doucy's production facility in Fernelmont, Belgium (sales of $5 million in 2024); Turpaz said the acquisition strengthens its sweet-flavours portfolio and Western European presence and was financed with bank debt.

Turpaz Industries Acquires Schumann & Sohn GmbH

November 12, 2024

Food & Beverage

Turpaz Industries Ltd. acquired 100% of German flavor company Schumann & Sohn GmbH for approximately €10.7 million, with the transaction completed on November 7, 2024 and financed through bank credit. The acquisition expands Turpaz's presence in sweet flavors in Western Europe, adds a Karlsruhe production and development site with 21 employees and ~€9 million in 2023 sales, and is expected to generate cross-selling and product-portfolio synergies.

Exponent Acquires IFF's Flavour Specialty Ingredients (FSI) Business

August 2, 2023

Food & Beverage

Exponent Private Equity agreed to acquire the Flavour Specialty Ingredients division (FSI) from International Flavors & Fragrances (IFF), a UK‑headquartered supplier of natural and aroma chemical base aromas. The carve‑out includes four manufacturing and distribution facilities across the UK, US and China, serves ~970+ clients and generates over $100 million in revenue; Exponent will back FSI to grow organically and via acquisitions.