Turkey: Nissin acquires factory, sets up factory

Nissin, the Japanese instant noodle producer, has signed an agreement to acquire a factory in Sakarya province, Turkey, from pasta manufacturer Oba Makarnacılık Sanayi ve Ticaret and to establish a subsidiary as part of its plan to expand its international operations.

The deal involves an investment of 1.59 billion TL ($38.1 million) to establish the subsidiary focused on noodle manufacturing.

Commenting on the move, Nissin Foods president and CEO Koki Ando said: “As part of our ‘Mid- to Long-Term Growth Strategy 2030’ announced in May 2021, we set a target to achieve c.45% of our Core Operating Profit from overseas businesses. Having already achieved this goal, we are committed to further strengthening our focus on international growth”.

“The establishment of the new company represents a strategic re-entry into Turkey, a market where growth opportunities are robust”, he added. “In addition to expanding the sales of instant noodles within Turkey, the business will look to expand into neighboring countries in regions such as Central Asia, the Middle East, and North Africa”.

The subsidiary is expected to be established by December.

Source: Just Food / Nissin