Acquisition Details#
Turpaz Industries Ltd., based in Israel, has announced that its U.S. subsidiary, Klabin-Turpaz, Inc., has successfully acquired Phoenix Flavors & Fragrances Inc. for $95 million. An additional $5 million may be paid based on Phoenix's performance in mid-2026. This deal was entirely financed by Turpaz's own resources and was finalized on the same day it was signed.
About Phoenix Flavors#
Phoenix Flavors & Fragrances, located in Norwood, New Jersey, specializes in creating and selling fragrance extracts for air care, personal care, and home fragrance products, as well as flavor extracts for the food and beverage industry. The company serves hundreds of customers across the U.S. market and operates three facilities: a fragrance production site in Norwood, a flavor production site in South Bend, Indiana, and a research and development center in Red Bank, New Jersey. Phoenix employs 76 people, and its current management team will continue to lead the company post-acquisition.
Financial Performance#
In 2025, Phoenix reported revenues of $36.8 million and an adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $6.9 million, showing slight growth from $36.6 million in sales and $5.1 million in adjusted EBITDA in 2024. Turpaz itself reported $275 million in revenue over the last twelve months as of Q4 2025, indicating a strong financial position to support acquisitions.
Future Plans and Synergies#
The acquisition will enhance Turpaz’s existing U.S. fragrance operations, which include Klabin, acquired in 2022. Turpaz plans to consolidate its fragrance production by moving Klabin’s manufacturing to Phoenix’s Norwood facility. The company anticipates realizing approximately $2 million in synergies through this integration over the coming quarters.
Cascadia Capital and Kirkland & Ellis LLP provided advisory services to Phoenix, while Stifel, Nicolaus & Company and OlenderFeldman LLP advised Turpaz.