Nissin partners with Yıldız’s pasta brand
ISTANBUL - Hürriyet Daily News
Yıldız Holding Group President Sözen believes that the instant noodle sector will provide a 1 mln portion yearly turnover. Company photoJapan-based Nissin Food Holdings, one of the world’s most important pasta and noodle companies, has become a 50 percent partner of Bellini Gıda, Yıldız Holding’s pasta production company, for a $23.5 million price tag, according to a company press release.
Nissin has annual revenues worth $3.2 billion and employs over 21,900 employees. It is active in 11 countries with 29 factories. It is especially active in the ready-to-eat noodle market with its popular brands such as Cup Noodles, Bowl Noodles, Chow Mein and Top Ramen.
Bellini Gıda, meanwhile, houses popular past brands like Piyale and Bizim Mutfak, and will now have access to “instant noodle” technology.
Yıldız Holding Group President Dr. Zeki Ziya Sözen said Yıldız Holding had a strategy to partner with global firms that promise a future in the Turkish market. “Turkey, which is the fifth largest pasta producer in the world, still has low rates of pasta consumption. Demand for quicker to prepare meals as a result of urbanization provides an opportunity for pasta and noodle consumption. Currently there are no large-scale firms that can produce instant ready-to-eat pasta products. We anticipate that this sector will provide a 1 million portion turnover per year,” said Sözen in the written press release.
The joint partnership has already received the approval of Turkey’s Competition Board and operations are expected to begin in October. Nissin hopes that through this partnership it will also be able to expand to the Middle East and African markets.