{"id":774590,"date":"2026-05-05T09:32:21","date_gmt":"2026-05-05T09:32:21","guid":{"rendered":"https:\/\/www.europesays.com\/us\/774590\/"},"modified":"2026-05-05T09:32:21","modified_gmt":"2026-05-05T09:32:21","slug":"sk-capital-sells-phoenix-flavors-fragrances-to-turpaz-industries","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/774590\/","title":{"rendered":"SK Capital Sells Phoenix Flavors & Fragrances to Turpaz Industries"},"content":{"rendered":"

SK Capital Partners LP\u00a0holding\u00a0Tilley Distribution Inc.\u00a0on\u00a0Monday, May 4<\/a>, said it\u2019s completed the sale of Phoenix Flavors & Fragrances Inc. to\u00a0Turpaz Industries Ltd., exiting the flavors and fragrances business after five years.<\/p>\n

New York-based SK Capital didn\u2019t disclose the financial terms of the sale, but it will receive<\/a> $95 million plus a potential earnout of up to $5 million based on performance this year, Turpaz said in its own statement. The sale comes after The Deal reported in January<\/a> that Cascadia Capital LLC was set to run a marketing process.<\/p>\n

Norwood, N.J.-based Phoenix develops and manufactures customized flavor and fragrance solutions for customers across food and beverage, personal care and industrial applications. The company operates manufacturing and research and development facilities in the U.S. and works with global and regional customers on tailored products.<\/p>\n

Phoenix had adjusted Ebitda of $6.9 million on $36.8 million in revenue in 2025.<\/p>\n

Baltimore-based Tilley acquired what was then known as Phoenix Aromas LLC\u00a0in December 2021<\/a>, with the combined platform generating about $30 million of Ebitda, The Deal reported. During its ownership, SK Capital invested in leadership, organizational build-out, production capabilities and operational infrastructure, positioning the company for continued expansion under Turpaz.<\/p>\n

SK Capital\u00a0had acquired a controlling interest<\/a>\u00a0in\u00a0Tilley Chemical Co.\u00a0in December 2020. With a 70-year history, Tilley is a value-added distributor of flavors, fragrances and ingredients for end markets including food and nutrition, industrial, personal care, healthcare and pharmaceuticals.<\/p>\n

Under SK Capital\u2019s ownership, the Tilley platform expanded through acquisitions, including\u00a0Ingredients Solutions Inc.\u00a0in\u00a0September 2021<\/a>\u00a0and\u00a0Callahan Chemical Co.\u00a0in\u00a0January 2022<\/a>. It rebranded as Tilley Distribution in September 2022.<\/p>\n

Holon, Israel-based Turpaz develops, manufactures and markets flavors, fragrances and specialty fine ingredients for the food, beverage, perfumery and personal care sectors. The company serves more than 4,000 customers in more than 90 countries and has been expanding across Europe, the Americas, Asia and the Middle East.<\/p>\n

The acquisition adds Phoenix Flavors & Fragrances to Turpaz\u2019s portfolio of flavor, fragrance and natural ingredient companies and expands the buyer\u2019s presence in North America.<\/p>\n

New York-based SK Capital focuses on specialty materials, ingredients and life sciences companies, with a track record of carving out and scaling high-performance platforms. It invests from its flagship strategy in upper middle market and large companies and from its Catalyst funds in smaller and midsize companies.<\/p>\n

It closed its sixth flagship fund with $2.95 billion in commitments\u00a0in 2024<\/a>.<\/p>\n

The Phoenix sale extends a streak of activity for the firm in situations previously reported by The Deal. SK Capital last month\u00a0announced its acquisition<\/a>\u00a0of food importer, distributor and supplier\u00a0Brothers International Food Holdings LLC\u00a0from\u00a0Benford Capital Partners LLC\u00a0and\u00a0sold specialty materials business<\/a>\u00a0Isolatek International\u00a0to\u00a0Catchment Capital.<\/p>\n

Elsewhere in the industry,\u00a0American Pacific Group LP\u00a0in April<\/a>\u00a0said it invested in fragrance brand\u00a0Dossier, marking its fifth platform investment in the consumer products sector.<\/p>\n

Cascadia Capital was the financial adviser to SK Capital and Phoenix, with\u00a0Kirkland & Ellis LLP\u00a0providing counsel.<\/p>\n

Turpaz tapped\u00a0Stifel, Nicolaus & Co.\u00a0for financial advice, while\u00a0OlenderFeldman LLP\u00a0provided counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"SK Capital Partners LP\u00a0holding\u00a0Tilley Distribution Inc.\u00a0on\u00a0Monday, May 4, said it\u2019s completed the sale of Phoenix Flavors & Fragrances…\n","protected":false},"author":3,"featured_media":774591,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5131],"tags":[5229,5643,1587,1589,67,586,132,5230,68,2969],"class_list":{"0":"post-774590","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-phoenix","8":"tag-america","9":"tag-arizona","10":"tag-az","11":"tag-phoenix","12":"tag-united-states","13":"tag-united-states-of-america","14":"tag-unitedstates","15":"tag-unitedstatesofamerica","16":"tag-us","17":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116521281125315717","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/774590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=774590"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/774590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/774591"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=774590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=774590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=774590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}