Thorpez Industries is a global company that operates by itself and through subsidiaries in the development, production, marketing and sale of unique flavor and fragrance extracts, intermediates and raw materials, reports today that on April 12, 2022, it signed an agreement to acquire Pentaur, which develops, manufactures and markets functional solutions To the amount of approximately NIS 10 million ($ 3.1 million) from its shareholder. The transaction was completed at the time of signing and was financed from Torpez’s own sources.
Pentaur, founded in 1997 by the late Dr. Oren Ben Israel, is engaged in the development, production, marketing and sale of unique functional solutions for the field of baking with advanced technology, under the PentaCake brand, which allow a combination of benefits such as softness, moisture, volume , Texture, and long shelf life. The manager of Pentaur will continue to manage and lead Pentaur in the coming years and will join the management team of the Thorpes Group.
Pentaur operates in the Zarzir industrial zone adjacent to the Thorpez development center in Zarzir, and exports the vast majority of its products to emerging markets, such as Vietnam, India and Southeast Asia. Pentaur’s activity in the Vietnamese and Southeast Asian markets joins Thorpez’s operations in Vietnam through its subsidiary Western Flavors Fragrances Production Join Stock Company (“WFF”), thereby enabling Thorpez to expand and deepen its activities in the Nimna market with the world’s emerging markets. In addition, the acquisition of Pentaur will enable synergies in purchasing and customers between the companies in the Thorpez Group, expanding the Group’s portfolio and diversifying the product basket for the Group’s customers in Israel and around the world.
Subject to meeting business objectives defined in the purchase agreement, the seller will be entitled to an additional consideration of up to NIS 1.5 million for the years 2022 and 2023. Pentaur’s sales turnover in 2020 and 2021 amounted to NIS 5.6 and 6.6 million, Respectively (about $ 1.6 and $ 2.0 million respectively).
The report on the acquisition of Pentaur comes after the Thorpez Group reported earlier this month on the acquisition of control (60%) of the Israeli company Balirom, which develops, produces and sells sweet and non-sweet flavor (Savory) salty flavors for NIS 16.2 million.