Sector News

Cargill to acquire Turkey’s Ekol Gida

May 28, 2015
Food & Drink
Commodities trader Cargill said on Wednesday its animal nutrition business has agreed terms to acquire a 51 percent stake in Ekol Gida, which operates in premixes and feed additives markets in Turkey.
 
The deal, which is subject to regulatory approvals, is expected to close in summer 2015.  No financial details have been disclosed.
 
“Customers will gain access to Cargill’s extended product portfolio and technical expertise for an enhanced experience,” said Mark Poeschl, vice president and group director of Cargill’s animal nutrition business. “The commercial focus will be on Turkey and selected export markets.”
 
Serhad Celik, General Manager of Ekol Gida, said: “We are proud for Ekol Gida to make this significant step together with Cargill. The deal will leverage our established customer network in premixes, feed additives and our profound market knowledge.”
 
Cargill said in a statement that the transaction was “aligned with Cargill’s animal nutrition business’ growth strategy”.
 
“In addition to retaining Ekol Gida’s products and services, and customer base, Cargill will strengthen its commitment to Turkey as a primary growth market by building technical applications centres for poultry and dairy,” the statement said.
 
The company also said that the deal will allow for global research & development competence to boost local market capabilities and enhance innovation.
 
After a transitional period, the business will operate under the global Provimi brand in the market.
 
Cargill provides food, agriculture, financial and industrial products and services to the world with its 152,000 employees in 67 countries. Cargill Turkey has more than 400 employees in six locations working in the four major sectors of food, finance, grain & oilseeds and industrial & bio-industrial products.
 

comments closed

Related News

November 19, 2022

Cultivated meat revolution changes gear as FDA gives “historic” nod to cell-based chicken in US

Food & Drink

Upside Foods has become the first company in the world to receive a “No Questions” letter from the US Food and Drug Administration (FDA) for cultivated meat, poultry or seafood, which means the government food agency accepts Upside’s conclusion that its cultivated chicken is safe to eat.

November 19, 2022

Technomic predicts rise in in-person dining for 2023

Food & Drink

While inflation and heightened interest rates have created the threat of a possible recession, Technomic’s first trend predicts the impact on the foodservice industry to be relatively mild. The company estimates rising grocery prices will help close the value gap between dining at home or at a restaurant, incentivizing consumers to eat out.

November 19, 2022

Oatly reorganizing as losses mount

Food & Drink

A week after Beyond Meat, Inc., said it was pivoting to improve company performance, Oatly Group AB announced its own pivot. Following weak third-quarter results, the company is shifting to a “hybrid” manufacturing model and reducing costs in its Europe, Middle East and Africa (EMEA) region through cost and headcount reductions.