Sector News

Ajinomoto to buy Turkish food maker

November 17, 2016
Consumer Packaged Goods

Major seasoning and food maker Ajinomoto Co. said Wednesday that it will acquire all outstanding shares in major Turkish food producer Orgen Gida Sanayi ve Ticaret AS and its Bizim Mutfak brand for about 220 million Turkish lira in early March 2017.

Through the move, Ajinomoto aims to strengthen its business in Turkey, whose economy continues to grow.

It will buy a stake of 51 percent in Orgen from Yildiz Holding AS and the remaining 49 percent from Orgen’s founding family.

Ajinomoto will take over Orgen’s powdered soup, bouillon, menu-specific seasoning and powdered dessert operations.

Meanwhile, Ajinomoto plans to end the Turkish company’s ketchup, mayonnaise and spice operations. Orgen’s coffee business will be transferred to an affiliate of Yildiz.Speech

Source: The Japan News

comments closed

Related News

February 25, 2024

The Body Shop faces store closures, layoffs and ingredient surplus after Aurelius acquisition

Consumer Packaged Goods

Recent reports reveal The Body Shop will shut up to half of its 198 stores in the UK and cut the size of its head office, incurring hundreds of job losses. According to the firm overseeing the restructuring of the beauty retailer, closures will begin this Tuesday.

February 25, 2024

Kroger and Albertsons face lawsuits to block $24.6bn merger – Bloomberg

Consumer Packaged Goods

Amidst brewing tensions, the US Federal Trade Commission (FTC) and a coalition of states are poised to take legal action as early as next week, aiming to prevent grocery giant Kroger’s $24.6 billion acquisition bid for Albertsons, Bloomberg reported.

February 25, 2024

Diageo reportedly in talks to offload trio of brands, including Pimm’s

Consumer Packaged Goods

The owner of Guinness and Baileys has hired financial service group Rothschild to explore the sale, which includes Pimm’s, fruit liqueur brand Safari and Pampero rum. Each brand could be offloaded individually or as a three, according to Sky News.

How can we help you?

We're easy to reach