Turpaz Industries Completes the Acquisition of Attractive Scent SAS

Turpaz Industries Ltd., an international company that develops, manufactures, and markets flavours, fragrances, and speciality fine ingredients, has completed the acquisition of a controlling stake (68.6%) in Attractive Scent SAS, a French fragrance company, for EUR 27.4 million (USD 32.3 million). The acquisition was financed using long-term bank loans.

Attractive Scent, created in 2018 in the centre of the global perfume industry, Grasse in the South of France, develops, manufactures, and markets fragrance extracts for the Fine Fragrances business, as well as for personal care products, cosmetics, air care, and candles. Attractive Scent has a diverse customer base in Europe, the Middle East, Asia, Africa, and South America, providing a comprehensive range of solutions and products for the worldwide fragrance industry. Attractive Scent has a production facility, a development laboratory with top perfumers, and a sales centre in an area known as the perfume industry's global capital. Attractive Scent employs 61 individuals. The deal contains a provision for purchasing Attractive Scent's remaining shares based on business performance.

Marc Langasque and Arnaud Fourre, founders of Attractive Scent, are seasoned executives with vast expertise in the fragrance sector in France and around the world. The founders will continue to oversee Attractive Scent while also joining Turpaz's Fragrance Division management team.

As part of the group's acquisition strategy, this strategic acquisition represents another key step towards extending Turpaz's fragrance operations, global reach, and portfolio of solutions for its customers. The acquisition creates a geographic platform that will allow for a faster entry into global luxury perfumery markets, as well as strengthens Turpaz's presence in the global fragrance industry across multiple segments, further positioning the company as a growing international player in the field of flavour and fragrance extracts.

Karen Cohen Khazon, Chairperson of the Board and CEO of the Turpaz Group, stated, "We are delighted to welcome Attractive Scent, its founders, management, and workers to the Turpaz Group. This acquisition is a strategic step towards extending the group's fragrance activities and boosting our position in the worldwide luxury perfumery industry, among other categories. This acquisition places Turpaz in the core of the perfume industry, allowing us to expand our regional presence while leveraging synergies between Attractive Scent and the other firms in the group. The combination of Attractive Scent's expertise, leading perfumers, creativity, and innovation with Turpaz's international infrastructure and capabilities will enable us to add value to our existing customers while also reaching out to new ones, further solidifying Turpaz's position as a global leader in the fragrance and perfumery industry."

Attractive Scent's creators, Marc Langasque and Arnaud Fourre, said, "We are thrilled to be joining the Turpaz group and becoming part of a global leader in the flavour and fragrance industry." This collaboration represents a new chapter full of great prospects to broaden our creative reach and grow together. By combining our knowledge and shared enthusiasm for excellent scents with Turpaz's global geographic footprint, which complements and expands our own, we will improve our creative quality, diversify our fragrance offering, and reach new markets throughout the world. As a vibrant and rapidly expanding company, Attractive Scent is taking a strategic step ahead by joining Turpaz, which will expedite our commercial development and boost our position in the international fragrance market. The entrepreneurial energy, customer-centric attitude, and distinct culture that distinguish Attractive Scent will continue to lead us, but with much more support and worldwide reach."

Between 2023 and 2024, Attractive Scent's revenue increased by 28%, from €10 million to €12.8 million, while EBITDA increased by 39%, from €1.9 million to €2.6 million.

Source: Turpaz Industries