Star – Japanese beverage giant, DyDo DRINCO, has acquired 90 percent stakes in the beverage manufacturing subsidiaries of Turkey’s largest food products group, Ülker.
Yildiz Holding, the owner of Ülker brand, has reached a deal with DyDo for TRY 335 million (approx. USD 110 million) for the sale of 90 percent shares in each of its beverage units, Della Gida, Ilk Meyve Sulari and Bahar Su. Yildiz Holding will retain the remaining 10 percent shares in the said companies.
In a press release, the Japanese company cited Turkey’s young population and economic growth prospects as the main reasons behind the investment, stating that it planned to expand the product line in the Turkish market.
Already partner to a number of global food and beverage companies, Yildiz Holding had previously sold stakes of its pasta producing unit, Bellini Gida, to another Japanese company, Nissin Food.