Turpaz Acquires British Flavor Company F&E for £22M

Turpaz Industries Ltd. announced the purchase of 100% of the share capital of Flavors and Essences UK Limited (F&E), a British flavors company, from IFF for £22 million on September 1, 2024.

F&E was established in 1998 and specializes in the creation, manufacturing, and marketing of flavor extracts for a wide range of products. F&E is stated to have a large consumer base, primarily in the United Kingdom, but also in other nations in Europe and Asia. It employs 50 individuals, including a sales staff in Belgium responsible for sales outside of the United Kingdom.

The purchase of F&E is another significant strategic step for Turpaz, which expands our presence in Europe and strengthens our position in the global flavor market. Our entry into the British market, which is a major market in Europe with a population of over 70 million inhabitants, opens up new and significant growth opportunities for us. Turpaz will work to leverage the synergy between F&E and the group’s companies, with the aim of expanding the product offering and strengthening the group's cross-selling capabilities. Karen Cohen Khazon, chairperson of the board and CEO of Turpaz

The turnover of F&E in the first six months of 2024 is reported to be 6.6 million pounds ($8.3 million). The acquisition of F&E is claimed to be Turpaz's 12th since it was founded.

Source: Perfumer & Flavorist