Turpaz Industries acquires Schumann & Sohn food flavorings

Israel — A HEUKING team led by part­ner Dr. Marc Scheu­ne­mann has advi­sed Turpaz Indus­tries Ltd. (“Turpaz”) on the acqui­si­tion of a German food flavoring company. A wholly owned subsi­diary of Turpaz signed an agree­ment to acquire 100% of the shares in Schu­mann & Sohn GmbH (“Schu­mann”). The purchase price amounts to appro­xi­m­ately EUR 10.7 million. The tran­sac­tion was comple­ted at the time of signing and was finan­ced by a bank loan. Schu­mann, foun­ded in 1948, has expe­ri­ence and exper­tise in the field of flavors and is active in the deve­lo­p­ment, produc­tion and marke­ting of flavors and quality solu­ti­ons for the food indus­try and food supple­ments. Schu­mann opera­tes a produc­tion, R&D, appli­ca­tion and distri­bu­tion site in Karls­ruhe, Germany. Schu­mann has a broad custo­mer base, mainly in the German market. Turpaz’s entry into the German flavor market is a further step in streng­thening Turpaz’s leader­ship posi­tion and estab­li­shing its presence in Europe. Schumann’s busi­ness is highly syner­gi­stic with Turpaz’s busi­ness and is expec­ted to enable Turpaz to streng­then its product offe­ring and capi­ta­lize on cross-selling oppor­tu­ni­ties, both by expan­ding its custo­mer base and broa­de­ning its product port­fo­lio. Turpaz Indus­tries Ltd. is an Israel-based company opera­ting as a chemi­cal manu­fac­tu­rer. Turpaz Indus­tries Ltd. opera­tes inde­pendently and through subsi­dia­ries in Israel, the USA, Asia and Europe in four fields of acti­vity (fragran­ces, flavors, phar­maceu­ti­cals and specialty ingre­di­ents). Turpaz Indus­tries Ltd. is listed on the Tel Aviv Stock Exch­ange. Advi­sors to Turpaz Indus­tries Ltd. HEUKING:
Dr. Marc Scheu­ne­mann, LL.M. (lead), Düsseldorf/Frankfurt,
Dr. Chris­tian Appel­baum (adver­ti­sing law),
Dr. Timo Piller (corpo­rate),
Chris­toph Hexel (employ­ment law),
Dr. Tilman Span­cken (real estate law), all Düsseldorf,
Moni­que Sandidge (employ­ment law),
Dr. Markus Collisy, Maxi­mi­lian Dehnert (both regu­la­tory), all Frankfurt