Torpaz CEO Keren Cohen Khazon: Industry is the beating heart of Israel s economy
Torpaz CEO Keren Cohen Khazon spoke at the Globes conference about building a global flavor and fragrance giant with 28 international acquisitions, emphasizing that people remain the ultimate asset.
If there is no industry in Israel, there will be no Israel, said Keren Cohen Khazon, CEO of Torpaz, during a conversation with Ella Levy-Vinerib at the Globes Next Generation Women Investors conference, held in partnership with Harel, Leumi, and Strauss. Cohen Khazon shared the journey to 28 mergers and acquisitions worldwide, the personal stories behind the deals, and her recipe for success.
Torpaz, which engages in the development, production, and marketing of flavor and fragrance extracts for the food and cosmetics industries, as well as raw materials for the pharma industry, has grown from a small company in Holon into a global group traded on the Tel Aviv Stock Exchange with a market capitalization of approximately 5.8 billion NIS. According to Cohen Khazon, the company operates in about 100 countries and runs roughly 30 plants worldwide.
Building a Global Footprint from Local Roots
Cohen Khazon recalled the beginning of her career at Makhteshim Agan, where women were traditionally restricted to specific roles, such as secretaries, tea servers, or lab technicians. However, she took charge of the Indian market and built a 300 million dollar operation in Southeast Asia within five years. She credited her mentor, the company s legendary CEO Ilan Levita, for giving her the crucial opportunity and guidance needed to succeed.
Reflecting on Torpaz, she noted how Nurit Bokshpan acquired the original perfume extract company in Holon with a turnover of 2.5 million dollars. Cohen Khazon promised to transform it into a global enterprise with factories spanning the globe. Explaining her formula for success, she stressed the importance of a clear vision, assembling a top-tier management team, and relentless daily hard work.
People over spreadsheets
While Torpaz relies on a strategy combining acquisitions, mergers, and organic growth, Cohen Khazon emphasizes that the core asset is always the people. We buy a company, not stocks. We do business with a human being, she noted, adding that her extensive travel means she often lives out of a suitcase while maintaining deep personal relationships with business partners worldwide.
Addressing the challenges of doing business abroad as an Israeli company, Cohen Khazon acknowledged media noise but pointed out that pragmatic business people focus on commercial success. We think global, we act local, she concluded, expressing deep pride in the company s Israeli identity and its contribution to the national economy.