Turkish frozen and canned food manufacturer Penguen Gida has announced plans to sell its 25% stake in fruit and vegetable processing company Penkon Gida.

In a statement to the Istanbul Stock Exchange yesterday (8 July), the company said it had appointed Turhan Gencoglu, deputy chairman of the board of directors, to hold negotiations for the sale of the stake and finalise the sale process.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Penguen, which also produces ready meals and jarred foods, did not disclose if it had received any expressions of interest for the stake.

Penkon Gida operates a 100,000 sq m facility in south-western Turkey, which has an annual fruit and vegetable processing capacity of around 100,000 tonnes.

Just Food Excellence Awards - Nominations Closed

Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suite delivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.

Discover the Impact