Turpaz continues to expand its operations in Europe and acquires its first sweet flavors company in Benelux - the Belgian company Doucy, for $8.5 million
Second Turpaz deal since the beginning of 2025; The acquisition will maximize the synergy between Turpaz's technology and products and Doucy's geographic reach and capabilities in the sweet flavors sector.
HOLON, Israel, Feb. 25, 2025 /PRNewswire/ -- Turpaz Industries (TASE: TRPZ), a company engaged in the development, production and marketing of flavor extracts and unique raw materials, today announced the acquisition of Doucy, a Belgian sweet flavors manufacturer, for $8.5 million, as well as an additional payment contingent on Doucy's EBITDA performance by March 2027. The transaction, which was completed at the time of signing, includes the acquisition of the real estate used by Doucy's state-of-the-art plant serving leading customers in the Benelux region. Doucy's sales turnover amounted to $5 million in 2024, with profitability rates corresponding to those of Turpaz's Taste division. The acquisition is another step in the expansion of Turpaz's operations in Western Europe and in the sweet-flavors sector. The transaction was financed through bank financing and is expected to contribute to Turpaz's financial results in the immediate term.
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