Reuters – On Monday, Nestlé Turkey's business unit agreed to buy a 51 percent stake in the Turkish chocolate and confectionery maker Dogan-Balaban Gida to increase its presence in the lower-priced confectionery market.
Nestle Turkey didn't disclose a price for the acquisition. The lower-priced confectionery goods segment worth around TRY 3.6 billion (Approx. USD 2.3 billion), accounts for half of the total market share, according to a statement by Nestle Turkey's confectionery business unit manager Devrim Cobek.
Active in the Turkish market for over a century, the Swiss company has 4 production plants in Turkey, employing some 5,000 people.