Bunge Company intends to increase its presence in Turkey’s vegoils market, having bought shares of the producing company called Ana Gida Ihtiyac Maddeleri ve Sanayi Ticaret.
55.25% of the shares will be bought out from Ana Gida, and the remainder – 44.75% – from Seef Foods. As of today, Ana Gida owns the Komili trademark, which is the leader of the market of olive oil and other vegoils, accounting for over 30% of retail sales.
According to preliminary estimates, the deal’s value will be $49 million. The final price will be determined in the end of the current year and the deal’s completion is scheduled for Q1 2017.
Bunge has been operating in Turkey since 2000. Apart from processing and marketing Ukrainian products, it processes imported oilseeds such as sunseed, rapeseed and soybeans. (UkrAgroConsult/Business World Magazine)