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News

Turkey: Tat Gida to be sold?

25/05/2023 - Sophie Colvine

According to the Turkish press, Koç Holding is evaluating the sale of Tat Gida, in which it has a 44 per cent shareholding. In the statement made to the Public Disclosure Platform (KAP), it was stated that "A study has been initiated to evaluate strategic alternatives, including the sale of Tat Gida shares".

It was stated that the potential bidders for the sale of Tat Gida are mostly global food brands operating in similar acquisitions in Turkey and neighbouring countries. Oyak, Kraft Heinz, Ajinomoto and Olam International top the list. Other potential buyers include Campbell Soup Company, Conagra Brands, Del Monte Foods, McCormick & Company, Nestle and Unilever. Oyak, which is already the owner of tomato processor TAMEK, is also said to be the strongest bidder for Tat Gida.

Tat Gida is the largest tomato processor in Turkey and listed at N°21 globally in our TOP50 table with 542 000 tonnes processed in 2022. It is 41 per cent publicly traded and 44 per cent of its shares are owned by Koç Holding, 10 per cent by other Koç Holding companies and 5 per cent by Sumitomo Corporation and Kagome Co. The company's net sales in 2022 amounted to TL 2.7 billion (c. 130 million euros) and recorded an annual growth of 155 per cent.

Sources: Haber Global, patronlardunyasi.com, Reuters

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TAMEK GRUP GIDA ÜRETIM A.S.

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09/05/2023 See details

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