Turpaz acquires Phoenix Flavors & Fragrances

The Israeli group specializing in flavors, fragrances, and specialty ingredients has announced the acquisition of the American company for $95 million, with up to an additional $5 million tied to the company’s performance in 2026.

This transaction strengthens Turpaz’s presence in the North American market by creating a fully integrated operational platform in the United States, covering development, production, marketing, and distribution in the fragrance and flavor sectors. Phoenix Flavors & Fragrances will be integrated into Turpaz’s existing U.S. operations through Klabin, acquired in 2022.

Based in New Jersey, Phoenix develops fragrance extracts for home fragrance products, cosmetics, and flavors for the food industry. The company operates three sites in the United States and employs 76 people. In 2025, it generated revenue of $36.8 million and adjusted EBITDA of $6.9 million.

Turpaz expects approximately $2 million in synergies from the integration of Phoenix and Klabin, notably through production consolidation at the Norwood, New Jersey site, operational savings, and cross-selling opportunities.