Cargill is acquiring Turyağ’s integrated plant
(crush, refinery) along with a sales and manufacturing organization, related
B2B brands and recipes, all IP and know-how.
This acquisition is driven
by Cargill’s ambition to grow in the fats and oils area in Turkey
Cargill has signed an
agreement to acquire Turyağ, a Turkish fats and oils company employing more
than 200 people. The acquisition will allow Cargill to grow its food ingredient
activities in Turkey and to expand its portfolio with oils and fats to better
serve its customers in Turkey and beyond.
The acquisition will
include integrated crush and refinery assets, sales and manufacturing
organizations, related B2B brands, intellectual property and know-how, and more
than 200 people currently employed by Turyağ. Excluded from the transaction are
the retail business and consumer brands.
Murat Tarakçıoğlu,
president of Cargill in
Turkey said: “The acquisition of Turyağ will help Cargill
create value for our customers in Turkey. It will diversify our product
offering and portfolio, enabling us to build stronger partnerships with global,
regional and local customers.”
Today, Cargill is a major
player in Turkey with a strong position in the food space and particularly in starches and
sweeteners. Tarakçıoğlu commented: “The acquisition provides our
customers with additional opportunities in the oils and fats space and enhances
our long term view for developing our business in the Middle East, Turkey and
North Africa.”
The transaction is still
subject to regulatory approvals and is expected to close in the coming weeks.
This blog is maintained by The Global Miller staff and is supported by the magazine GFMT which is published by Perendale Publishers Limited.
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