Bunge, the US agri-food giant, has snapped up Turkish olive oil business Ana Gida, the owner of the Komili brand.
The company paid undisclosed sums for the 55.25% stake in Ana Gida owned by Turkish conglomerate Anadolu Endüstri Holding A.S. and the 44.75% held by SEEF Foods.
Go deeper with GlobalData
“The acquisition of Ana Gida will enable Bunge to diversify into the higher value olive oil category with a market leadership position,” Paul Ayton, managing director of Bunge’s Turkish business, said.
Bunge claimed the Komili brand accounted for more than 30% of the retail sales of olive oil in Turkey. It added the deal would “provide a strong vegetable oil portfolio across all price segments”.
Tommy Jensen, the CEO of Bunge’s operations in the Europe, Middle East and Africa, added: “This acquisition is fully aligned with our strategy to strengthen our portfolio with increasing focus on added-value products. It will further reinforce Bunge’s existing business in one of the largest and fastest growing edible oil markets in EMEA.”
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
