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
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