Turpaz Acquires Sweet Flavors Company Doucy, for USD8.5m

Turpaz Industries, a company engaged in the development, production and marketing of flavor extracts and unique raw materials, announced the acquisition of Doucy, a Belgian sweet flavors manufacturer, for USD8.5m, as well as an additional payment contingent on Doucy’s EBITDA performance by March 2027.

The transaction, which was completed at the time of signing, includes the acquisition of the real estate used by Doucy’s state-of-the-art plant serving leading customers in the Benelux region. Doucy’s sales turnover amounted to USD5m in 2024, with profitability rates corresponding to those of Turpaz’s Taste division. The acquisition is another step in the expansion of Turpaz’s operations in Western Europe and in the sweet-flavors sector. The transaction was financed through bank financing and is expected to contribute to Turpaz’s financial results in the immediate term.

Founded in 1968, Doucy is a company with a unique expertise in the development and production of sweet flavors for food, beverages, as well as colors and additives for the animal feed industry. The company operates both a development and an application laboratory and a modern and advanced factory in Fernelmont, Belgium.