Fourth purchase for Turpaz since the beginning of 2024
, /PRNewswire/ — Turpaz Industries Ltd. (TASE: TRPZ) reports today the purchase of 100% of the share capital of the German company, Schumann & Sohn GmbH, which operates in the field of food flavors, for approx. 10.7 million euros. The deal, which was completed on November 7, 2024, was financed through bank credit.
The purchase is a continuation of Turpaz’s international expansion strategy and strengthens its position in the field of sweet flavors in Western Europe.
The Schumann company, which is well respected in its field, was founded by the Schuman family in 1948 and sold 6.7 million euros in the 9 months ending on September 30, 2024, a sales rate similar to 2023. The turnover for the entire year of 2023 was 9 million euros. Schuman’s profitability rate is similar to the profitability rate of Turpaz’s Flavor division.
The German company operates a production and development site in Karlsruhe, Germany, and employs 21 …