International seasoning and food firm Ajinomoto has announced it will acquire Turkish food manufacturer Orgen, including the Bizim Mutfak brand, to strengthen and expand its business in Turkey. Ajinomoto is set to acquire all outstanding shares for 220 million TRY ($66.2 million) by March 2017, including the four main business sectors of stock, powder soup, cooking sauce and powder desserts, all of which come under the Bizim Mutfak brand. Orgen is …
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Yildiz
Yildiz Holding, the largest food group in Turkey, has made an agreement to sell its AK Gida dairy unit to French food giant Lactalis. According to local reports, Lactalis will take an 80% stake in Istanbul-based AK Gida at an estimated value of $800m and Yildiz’s stake will decrease from 33% to 10%. Speaking to Dairy Reporter, Michel Nalet, a Lactalis spokesmanm, said: “It’s a great opportunity for Lactalis to …
The Turkish food conglomerate Yildiz Holdings, owner of Belgium’s Godiva Chocolate and America’s De Met’s Candy Company, has fended off competition from Burton’s Biscuits and Kellogg’s to acquire United Biscuits from private equity funds managed by Blackstone and PAI Partners. Lionel Assant, European Head of Private Equity at Blackstone, said: “United Biscuits is a great business and has been an excellent investment for us. Yildiz is the best home for …
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