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.

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.