South African mergers and acquisitions (M&A) advisory firm Deal Leaders International has announced that it has advised on the sale of 70% of South African flavour and fragrance manufacturer Sensory FX to global flavours, fragrances, intermediates and speciality fine ingredients developer and manufacturer Turpaz Industries. Sensory FX has a broad footprint across Africa while Turpaz products are sold in more than 100 countries. The value of the deal is $10.6-million (some R177.4-million).

“SensoryFX has built a specialist business with strong local and regional expertise,” highlighted Deal Leaders International deal executive Janine Wright. “Turpaz brings international reach and capabilities, creating an opportunity for the company to grow while its existing shareholders continue to lead it.”

Existing SensoryFX shareholders François Strydom and Joseph Mohohoma together would continue to hold 30% of the company. SensoryFX, founded in 1999, is one of the few local independent fragrance extract manufacturing companies. Based in Centurion, just south of Pretoria, it employs 75 people and serves the consumer products, food and beverage, home fragrance and personal care industries, in South Africa and across a number of African markets.

“We’ve always believed that South Africa could produce a fragrance and flavour company capable of competing with the very best in the world,” affirmed Strydom. “This partnership validates that belief and marks an exciting new chapter for SensoryFX. We are proud to join the Turpaz Group and look forward to what we can achieve together.”

The two companies will combine research and development capabilities and commercial, technological and operational expertise, to achieve synergies. The deal will give SensoryFX access international markets, while allowing Turpaz to enter the South African market.

Deal Leaders International helps business owners to position, prepare and sell their businesses. It works with local and international buyers and helps sellers handle complex deals and achieve the results they seek.