Bahraini private-equity firm Investcorp has purchased a significant minority stake in Turkish firm Namet, a producer of fresh cut and packaged red meat products.
The news comes following just-food’s report of the company’s acquisition of UK crisp business Tyrrells for GBP100m (US$164.2m) last year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Though the transaction value of the latest Investcorp deal remains undisclosed, it is understood that the Kayar family which acquired Namet in 2005 will continue to retain a majority share in the company.
Mohammed Al Shroogi, president of Investcorp’s Gulf Business, said: “We are delighted to be partnering with another successful family business, which has a rich heritage in Turkey for providing quality food products.”
In the last few years, Namet invested in expanding its production capacity with the launch of a meat processing and production facilities in Istanbul and Antalya and the purchase of a livestock farm in Harranova to boost its access to high quality meat supply. The partnership with Investcorp will see it focus on growing the business domestically and looking at revenue-building opportunities beyond Turkey.
Ozcan Albak, board member of Namet, added: “We believe the investment will enhance our growth, our corporate infrastructure and value-add potential. This is a win-win partnership which will allow all of our stakeholders including our employees, Turkish consumers and our clients to benefit from it over the medium term.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
