Turpaz Industries acquires 70% stake in Sensory FX for USD 10.6M
The combination of the businesses is expected to create commercial, technological and operational collaboration by bringing together expertise, research and development capabilities, product portfolios and procurement activities.
SOUTH AFRICA – Turpaz Industries Ltd. has announced the acquisition of a 70% interest in Sensory FX Proprietary Limited, a privately owned South African developer and manufacturer of flavours and fragrances.
The transaction was carried out through Turpaz’s South African subsidiary, Sunspray Solutions Proprietary Limited (“Sunspray”).
The consideration for the 70% shareholding comprised an initial payment of approximately USD 10.6 million, or around ZAR 177.4 million, made upon signing, together with an additional amount linked to Sensory’s performance from March 1, 2026, to February 28, 2027.
The acquisition was completed at signing and financed through long-term bank debt.
Sensory’s existing shareholders, who have substantial experience in South Africa’s flavor and fragrance industry, will retain the remaining 30% of the company and continue managing its business and operations in the coming years.
The agreement includes reciprocal put and call options over these remaining shares, exercisable from either two or three years after closing, depending on the shareholder. The exercise price will be determined by Sensory’s business performance up to the date the options are exercised, with shareholders able to choose payment in cash or Turpaz shares.
Karen Cohen Khazon, Chief Executive Officer of Turpaz Industries, welcomed Sensory, stating, “This acquisition is an important step in implementing Turpaz’s growth strategy by expanding our presence in emerging markets and leveraging collaboration across the Group.”
Founded in 1999, Sensory develops, manufactures and markets flavours, fragrances and related solutions for the food and beverage, personal care, home fragrance and consumer products industries.
It is one of the few independent local manufacturers of fragrance extracts in South Africa and serves a broad, diversified customer base in South Africa and other African markets.
Sensory employs 75 people and operates a leased production site and a state-of-the-art research and development centre in the Johannesburg area.
The centre opened approximately one year ago and is staffed by perfumers and flavorists with extensive experience.
Sensory’s manufacturing and innovation operations are located near Turpaz’s existing South African businesses, including Sunspray, which specializes in spray-drying solutions for the food and beverage sector, and Nicola-J, which operates in the flavor industry.
For the fiscal year ended February 28, 2026, Sensory generated revenue of USD 10.9 million, representing growth of approximately 18% compared with USD 9.2 million in the previous fiscal year.
Gross profit increased to USD 5.7 million from USD 4.7 million, while operating profit rose to USD 2.0 million from USD 1.5 million.
EBITDA reached USD 2.4 million, up from USD 1.8 million a year earlier, and net profit rose to USD 1.7 million from USD 1.1 million.
The purchase represents Turpaz’s first move into the South African fragrance market and another strategic step toward expanding its geographic footprint and strengthening its position in Africa.
It is intended to advance the creation of an integrated regional flavor and fragrance platform that combines local development and manufacturing capabilities with the knowledge, technologies and resources of the global Group.
On the other hand, Turpaz Industries Group is a global business operating in the flavor, fragrance and specialty fine ingredients sectors. It develops, manufactures, markets and sells thousands of products to more than 5,100 customers in over 100 countries.
Its worldwide network comprises 31 manufacturing sites, research and development centers, laboratories, and sales, marketing and regulatory offices, and it employs more than 1,200 people.
Since 2017, Turpaz has completed 29 acquisitions globally, expanding its geographic reach, strengthening its development and manufacturing capabilities, and broadening its product and solutions offering.
Its business strategy combines organic growth at a rate above market growth with the successful, systematic implementation of strategic acquisitions.
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