Affiliates of funds advised by SK Capital Partners, LP (“SK Capital”), a private investment firm focused on the material sciences, specialty ingredients, and life sciences sectors, announced today that it has completed the sale of Phoenix Flavors & Fragrances Inc. (“Phoenix” or the “Company”) to Turpaz Industries Ltd (TLV: TRPZ), a global developer, manufacturer, and marketer of specialty fragrance, flavor, and natural ingredient solutions for consumer and industrial applications. Phoenix will join Turpaz’s expanding portfolio of companies serving the flavors and fragrances market, strengthening its presence in North America and enhancing its global capabilities.
“We are proud of the progress the Phoenix team has made during our partnership,” said Mario Toukan, Managing Director of SK Capital. “Phoenix has meaningfully strengthened its commercial and operational foundation, and we are confident that Turpaz will be an excellent partner for its next stage of growth. We thank the Phoenix team for their dedication and wish them continued success.”
Phoenix Flavors & Fragrances, headquartered in Norwood, NJ, develops and manufactures customized flavor and fragrance solutions for customers across food & beverage, personal care, and industrial applications. During SK Capital’s ownership, the Company benefited from investments in its leadership, organizational buildout, production capabilities, and operational infrastructure, positioning it for continued expansion.
“This transaction represents an important milestone for Phoenix,” said JP Benveniste, CEO of Phoenix. “Turpaz brings a complementary global network and technical expertise that will allow us to broaden our offerings and better serve our customers. We are excited to join the Turpaz group and pursue new opportunities together.”
Karen Khazon, CEO of Turpaz Industries, added, “Phoenix is a strong strategic fit with our organization. The Company’s capabilities and customer relationships further reinforce our presence in North America and align with our focus on building a diversified, innovation-driven platform. We look forward to working closely with the Phoenix team to drive continued growth.”
Cascadia Capital, LLC acted as financial advisor and Kirkland & Ellis LLP acted as legal counsel to SK Capital and Phoenix. Stifel, Nicolaus & Company acted as financial advisor and OlenderFeldman LLP acted as legal counsel to Turpaz in this transaction.
About SK Capital:
SK Capital is a transformational private investment firm with a disciplined focus on the material sciences, specialty ingredients, and life sciences sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital manages funds with over $8.5 billion in aggregate commitments. For more information, please visit www.skcapitalpartners.com.
About Phoenix Flavors & Fragrance, Inc:
Phoenix Flavors & Fragrances is a developer and manufacturer of customized flavor and fragrance solutions serving a diverse range of end markets, including food & beverage, personal care, and industrial applications. The Company partners with customers to formulate high-quality, tailored products that meet evolving consumer preferences and regulatory requirements. With a focus on innovation, technical expertise, and responsive customer service, Phoenix has established long-standing relationships with a broad base of global and regional customers. The Company operates manufacturing and R&D facilities in the United States. For more information, please visit https://phoenixff.com.
About Turpaz Industries Ltd:
Turpaz Industries Ltd. is an international company that develops, manufactures, and markets flavors, fragrances, and specialty fine ingredients, with a focus on natural, innovative, and high value-added products for the food, beverage, perfumery, and personal care industries. The company develops, produces, markets and sells products to more than 4,000 customers in more than 90 countries across the world, and continues to expand its global presence in key markets across Europe, the Americas, Asia, and the Middle East. For more information, please visit www.turpaz.co.il.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260504957666/en/
Media gallery
