Turpaz Industries acquired British flavors company Flavors and Essences UK Limited for £22 million from IFF.WHO: Flavors and Essences UK Limited F&E, founded in 1998, specializes in the development, production and marketing of flavor extracts for a variety of products. F&E has a wide customer base, mainly in the United Kingdom, and in other countries in Europe and Asia. It employs 50 people, including a sales team in Belgium responsible for sales outside Great Britain. Turpaz Industries is a global group that develops, manufactures, and markets unique flavor, fragrance, and raw material solutions for the food, beverage, pharma, and personal care industries. With over 3,000 customers in 60 countries, Turpaz operates 17 production sites and R&D centers worldwide and employs 800 people.WHY: This expands the global distribution and sales of the group.IN THEIR OWN WORDS: Karen Cohen Khazon, Chairperson of the Board and CEO of Turpaz, said, "The purchase of F&E is another significant strategic step for Turpaz, which expands our presence in Europe and strengthens our position in the global flavor market. Our entry into the British market, which is a major market in Europe with a population of over 70 million inhabitants, opens up new and significant growth opportunities for us. Turpaz will work to leverage the synergy between F&E and the group's companies, with the aim of expanding the product offering and strengthening the group's cross-selling capabilities."DETAILS:Turpaz Industries purchased 100% of the share capital of British flavors company Flavors and Essences UK Limited for £22 million from IFF.