Israel, Germany

One of the leading companies in Israel in its field
acquires a company in Germany

Vardina Hilloo

“Turpaz” on of the leading companies in Israel in its field
acquires a company in Germany. Turpaz Industries reports
today (on Sunday) on the purchase of 100% of the share
capital of the German company Schumann & Sohn GmbH,
which operates in the field of food flavors, in exchange for
approximately 10.7 million euros. The transaction, which was
completed at the end of the week, was financed through bank credit.
This is the fourth purchase for Thorpez since the beginning
of 2024, step that may strengthen the company's position in
the global market. In the previous third strategic purchase
from the beginning of this year was of 100% of the share
capital of the English flavor company F&E for 22 million pounds.
The Israeli company has over 40 years' worth of experience
in the world of fragrances and flavors.

Turpaz stated that the purchase is a continuation of the
company's international expansion strategy, and strengthens
its position in the field of sweet flavors in Western Europe.
The Schumann company, founded by the Schumann family
in 1948, which has a great reputation in its field, sold in the
9 months ending on September 30, 2024 about 6.7 million euros,
a sales rate similar to 2023. The sales turnover for the entire
year 2023 was about 9 million euros. Schuman's profitability
rate is similar to the profitability rate of Turfaz's flavors division
. Turfaz Industries Ltd. is one of the leading companies in Israel
in the field of development, production and marketing of flavors
and raw materials for the food industry. The company,
founded in 2011, operates 17 production facilities and R&D
centers in Israel and around the world, and serves more
than 3,000 customers in approximately 60 countries around
the world In the first half of 2024, the company's revenues
totaled $85.8 million, with an EBITDA rate of 45%.