Israeli Industry Vital for Nation's Survival, Says Turpaz CEO

Keren Cohen-Hasson, CEO of Turpaz, stated that Israel's future is contingent on its industrial sector, emphasizing that "If there is no industry in Israel, there will be no Israel." She made these remarks at the Globes 'Next Generation Investors' conference, discussing her journey leading Turpaz through 28 mergers and acquisitions globally and her personal recipe for success.

Turpaz, a company specializing in flavor and fragrance extracts for the food and cosmetics industries, and raw materials for pharmaceuticals, has transformed from a small Holon-based firm into a global group traded on the Tel Aviv Stock Exchange, valued at approximately NIS 5.8 billion. Cohen-Hasson noted the company operates in about 100 countries with roughly 30 factories worldwide.

Reflecting on her early career at Makhteshim Agan, Cohen-Hasson recalled limited roles for women. However, she was entrusted with the Indian market, building a $300 million operation in Southeast Asia within five years. She credited her mentor, former Makhteshim Agan CEO Ilana Levita, for opening doors and fostering her growth, stressing the importance of belief from leadership.

Cohen-Hasson outlined her success formula: clear vision and strategy, a "winning team" of executives, and relentless hard work. She highlighted that Turpaz's strategy combines mergers and acquisitions with organic growth, but considers its people its most valuable asset, stating, "We buy a company, not shares. We do business with a person." She described her approach as "driving a car through the rearview mirror" if relying solely on financial reports, emphasizing the need to look forward.

Turpaz is currently focused on expanding its presence in the Americas and Asia, while considering Africa. Cohen-Hasson expressed caution regarding the Middle East due to current global instability. She mentioned that Israel accounts for less than 7% of Turpaz's operations, but expressed a desire for local companies like Strauss to become clients, noting that Turpaz supplies global giants like Unilever and Nespresso.

Addressing the current geopolitical climate, Cohen-Hasson urged Israelis to protect their home, stating, "If we don't know how to protect our home, we won't have a home." She praised Israel's high GDP per capita, technological capabilities, and resilient citizens, particularly their response post-October 7th. Despite internal disputes, she asserted that Israelis will always be perceived as outsiders abroad and are proud to be an Israeli company. She noted that while media noise exists, business professionals focus on their own interests, and Turpaz maintains local identities of acquired companies, operating under the principle, "We think global, we act local."