Cargill expands business in Turkey through acquisition
Cargill have agreed terms to acquire a 51% stake in Ekol Gida to accelerate growth of its animal nutrition business in Turkey.
Cargill's animal nutrition business has agreed terms to acquire a majority stake in Ekol Gida*, a leading company operating in premix and feed additives markets in Turkey. The deal, which is subject to regulatory approvals, is expected to close in summer 2015."Customers will gain access to Cargill's extended product portfolio and technical expertise for an enhanced experience", says Mark Poeschl, vice president and group director of Cargill's animal nutrition business. "The commercial focus will be on Turkey and selected export markets."
"We are proud for Ekol Gida to make this significant step together with Cargill. The deal will leverage our established customer network in premixes, feed additives and our profound market knowledge. The management team will remain committed to continue serving our existing customer base," says Serhad Celik, Ekol Gida's general manager and one of its founding shareholders.
Animal nutrition business' growth strategy
The transaction is aligned with Cargill's animal nutrition business' growth strategy. In addition to retaining Ekol Gida's high quality products and services, and customer base, Cargill will strengthen its commitment to Turkey as a primary growth market by building technical applications centres for poultry and dairy. This will allow for global research & development competence to boost local market capabilities and enhance innovation. Customers will benefit from locally applicable innovations, knowledge transfer, farmer education programs and embedded industry partnerships.
After a transitional period, the business will operate under the global Provimi brand in the market.
(*) Ekol Gida Tarim Ve Hayvancilik Pazarlama Sanayi Ve Ticaret Anonim Şirketi
About Ekol Gida
Ekol Gida, established in 1998, is one of the leading companies in premixes and feed additives markets. With more than 40 years of experience in feed, animal nutrition, and related industries, the founders of the company not only contributed to the development of premix concept but also have achieved to build up one of the largest customer base in the country with high quality services and products.
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