Key Takeaways:Turpaz to acquire 100% of the share capital of Phoenix Flavors & Fragrances from SK Capital Partners.In 2025, Phoenix generated revenues of $36.8 million and adjusted EBITDA of $6.9 million.The deal is for $95 million, plus up to an additional $5 million contingent consideration based on performance in the second and third quarters of 2026.Turpaz continues to expand its footprint in North America with a $95 million deal to acquire Phoenix Flavors & Fragrances.WHO: Phoenix Flavors & Fragrances, headquartered in Norwood, New Jersey, develops, manufactures, markets, and sells fragrance extracts used primarily in air care, personal care, and home fragrance products, alongside flavor extracts for the food and beverage industry. Over the past several years, Phoenix has expanded its footprint through complementary acquisitions, including Ascent Aromatics (2017), Creative Concepts (2018), and Innovative Fragrances (2022). During 2025, Phoenix completed a comprehensive reorganization and operational efficiency program, which included consolidating its fragrance manufacturing sites, opening a new flavors production facility in South Bend, Indiana, and implementing advanced IT systems.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.