Yildiz Holding, the Turkey-based food group, reportedly plans to invest in its snacks capacity in three markets and embark on moves on east Africa this year.
Cem Karakas, Yildiz’s executive deputy chairman, said the United Biscuits and Godvia owner will spend more than the TRL1.6bn it spent last year.
“In the snacks segment particularly, we want to expand our business by 17% each year in sterling terms. To achieve this we need to invest in our capacity,” Karakas told reporters, according to the Reuters news agency. Karakas adding Yildiz would invest in its snacks operations in Turkey, the UK and the US.
Karakas also indicated there could be investment in Africa. “In east Africa – Kenya, Uganda and Tanzania – we are planning to enter with a new investment soon,” he was quoted as saying by Reuters.
The Yildiz executive could not be reached for further comment when just-food contacted the company today (14 January)