SK Capital Partners, a private investment firm specializing in life sciences and materials, has finalized the sale of Phoenix Flavors & Fragrances Inc. to Turpaz Industries Ltd. Turpaz is a global leader in creating and marketing flavor and fragrance solutions for various industries.

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.”

Based in Norwood, NJ, Phoenix Flavors & Fragrances creates bespoke flavor and scent solutions for the food, beverage, personal care, and industrial sectors. While under the ownership of SK Capital, the firm underwent significant growth by upgrading its leadership, scaling its organizational structure, and enhancing both production and operational systems.

“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.