Ajinomoto has bought an additional 50% stake in Turkish food company Kükre for TRY 181 million ($51.7 million), becoming the sole owner.
In 2013, Ajinomoto acquired a 50% stake in Kükre and it has been strengthening its existing business in Turkey and expanding into new areas of food. The Japanese company now aims to strengthen its operations in the Middle East on the back of the deal.
As a result of steady growth in sales of vinegar and fruit sauces as well as enhanced initiatives for growing retail chains since 2013, net sales of Kükre in 2016 were approximately TRY 70 million ($20 million), nearly doubling from 2014.
Earlier this year Ajinomoto acquired all shares of Turkish Food company Örgen, as it further enhances its presence in the country. The Ajinomoto Group now intends to strengthen cooperation between Ajinomoto Istanbul Food Sales, Kükre and Örgen.
Ajinomoto announced in March that it would invest $15 million in Israeli plant-based protein company Hinoman.
A new wave of brands is emerging that promotes indulgence and rejects the notion of sacrifice. Low-maintenance “hangover” beauty products are designed to address the effects of late nights and partying without judgment or hassle, and even include cosmetics that are formulated in a way that means you can fall asleep in your makeup without feeling guilty.
The pilot will allow the company to scale circular packaging in about 18 markets over the next three years, an approach that jumps on the success of similar efforts in the company’s Indonesia ecoSPIRITS program, which launched in 2022 and is active in 38 bars.
Unilever’s focus on purpose across its brands has been a source of criticism from some of its investors. Its new CEO Hein Schumacher says the company now recognises there are some brands where the concept is simply not relevant.