Trakya Et ve Süt Ürünleri San. ve Tic. A.Ş., the owner of Polonez – a deli meat products brand operating in Turkey over 30 years – has shaken hands with the Jordan-based Siniora Food Industries for the acquisition of its majority stake.
The Turkish Competition Authority approved the sale of a 77 percent equity share in Trakya Et ve Süt Ürünleri San. ve Tic. A.Ş. , a Siniora Food Industries press release has revealed. The Jordanian company gained entry to the Turkish market after acquiring its shares for USD 28.3 million.
Releasing a statement on the deal, Arab Palestinian Investment Company (APIC) and Siniora Food Chairman Tarek Aggad said, “The acquisition is part of our strategy to raise our market share regionally and globally. Turkey is a significant location for us to access European and global markets.”
A subsidiary of APIC, Siniora Food Industries is a multinational company, carrying operations in the food industry as a key player in the Middle East with its factories in Jordan, United Arab Emirates and Palestine.