Turpaz Industries takes majority stake in Aromatique Food

Turpaz Industries entered into an agreement on 12 October 2022 to acquire 65% of Aromatique Food from Florin Floroiu, its founder and sole shareholder. Completion followed on 9 January 2023, once Romanian regulatory approvals had been obtained. Floroiu retained 35% and remained chief executive, joining the group’s management team. Cross options over that minority become exercisable from January 2025, at a price determined by the company’s results from the beginning of 2023 to the exercise date. Established in 2013 and operating from a plant and offices in Bucharest, Aromatique Food develops and produces savoury flavour mixtures and functional ingredients for food manufacturers. Its formulations season and stabilise prepared meats, fish products, soups and snacks, and are supplied as raw materials entering into its customers’ own production. The business trades principally in Romania. Eastern Europe concentrates a substantial share of European meat and fish processing, and the formulations serving those industries are developed alongside the processor’s own technologists, which ties suppliers to the factories within reach of them. Turpaz held savoury operations in Israel and Belgium but none in the region.