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.
Founded in 1968, Doucy is a company with an excellent reputation and unique expertise in the development and production of sweet flavors for food, beverages, as well as colors and additives for the animal feed industry. The company operates both a development and an application laboratory and, as mentioned, a modern and advanced factory in Fernelmont, Belgium.
Karen Cohen Khazon, Chairperson and CEO of Turpaz Industries, said : "The acquisition of Doucy is another milestone in Turpaz's global growth strategy. The synergy between Doucy's knowledge and experience in the sweet flavors sector and Turpaz's existing capabilities in the savory sector in Belgium, will allow us to offer our customers an even broader product portfolio and comprehensive, high-quality solutions. This is another acquisition in Turpaz's core area that solidifies our position in the global flavors sector. I congratulate the Doucy management who will join Turpaz's management team and continue to lead the company's activities in the coming years, which will ensure business continuity and enable growth and leverage of the synergies between the companies."
Guy Peremans, Doucy CEO, said : "Joining the Turpaz group is a significant milestone for Doucy. Turpaz's capabilities, advanced technology, and impressive and unique product portfolio in Europe create a valuable opportunity for Doucy to significantly expand its operations, enhance its technological capabilities, diversify its product portfolio, and strengthen its presence in Benelux."
Company website: www.turpaz.co.il
Contact:
Yoni Adini, General Counsel
[email protected]
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SOURCE Turpaz Industries
