Japan’s Ajinomoto fully acquires Turkey-based food firm Kükre
ISTANBULJapan’s Ajinomoto has said it has acquired a further 50 percent stake in Turkey-based food firm Kükre on Aug. 17 in a deal worth nearly 181 million Turkish Lira (5.7 billion Japanese Yen), Reuters has reported.
The Japanese company has thus secured full ownership of the Turkish company, which has sold seasonings and pickles, as well as other products, for more than 100 years, with its main “Kemal Kükrer” product lineup being recognized as a premium brand throughout Turkey.
“With this acquisition, Ajinomoto Co. will accelerate its business expansion in Turkey with the intention of further strengthening its operations in the Middle East,” the company said in a statement on Aug. 18.
Ajinomoto Co. signed an agreement to acquire a 50 percent stake in Kükre in 2013 for approximately 60 million liras (approximately $29.3 million at the time).
In 2017, Ajinomoto Co. also acquired all shares of Örgen Gıda, another major food company in Turkey, which is famous with its Bizim Mutfak brand business for bouillon, powdered soups and other products.