Kerevitaş, becomes second largest listed food company of Turkey

Kerevitaş, becomes second largest listed food company of Turkey

  • Kerevitaş joined Yıldız Holding in 2008, and after the largest capital increase of the last term, Kerevitaş is now buying Turkey’s market leader edible oil production company, Besler (which also contains Marsa).
  • With the aggreement that is planned to be concluded by the end of this year, Kerevitaş will be payin 904,5 Million TL.
  • With its new structure, Kerevitaş will have up to 2 Billion TL as endorsement and will be placed as Turkey’s second largest listed food company.

Kerevitaş, which is a leading player in the frozen food market with its superfresh brand and also producing tuna fish and canned food at the same time, buys Besler, which has Marsa within itself, that has been producing with its well-known brands such as Bizim Yağ, Teremyag, Luna and Ona . Kerevitaş will be paying 904.5 Million TL for this deal. Kerevitaş will have a turnover of close to 2 Billion TL with its new structure and will become Turkey's second largest public food company.

After the acquisition by Yıldız Holding in 2008, the synergies and structuring that occurred, helped Kerevitaş to improve its operating performance significantly. The average growth rate of Kerevitaş in the last three years was 21%, while the growth in the first half of 2017 was 24%. In 2016, Kerevitaş exceeded 460 million TL in endorsements. Kerevitaş, anticipated closing 2017 with approximately 30% in growth, and 600 Million TL in endorsements.

Yıldız Holding's Processed Meat, Frozen Food and Personal Care Group President Oğuz Aldemir said, "This transaction is critical to Kerevitaş's sustainability. Our two leading companies in their respective markets will combine their strengths to create a new structure that operates on a larger scale and has a huge sales volume. With this operation; we target process improvements and cost advantages in raw material procurement used in production. Besler's criteria of excellence and sustainability and the use of high technology will provide advantages for the new structure. Our goal is to increase our customer satisfaction by coming out with a wider portfolio in front of our consumers. "

Oguz Aldemir continued: "We are a market leader in the field of frozen food, and we are a structure that produces operating profit with double digit growth figures. The economy of our country is alive and developing. We continue to develop with our export channels, which account for 15 percent of the turnover. Therefore, we have high expectations from the sector. As Kerevitas, we strive to present the products that our consumers like, with the most accurate distribution channels. Kerevitas will become the second largest food company of the stock market after this transaction. Both domestic and foreign investors will have eyes on us. We are aiming to produce sustainable values both in our country's economy and in all our stakeholders with the strengthening new structure. "

MURAT ÜLKER: KEREVITAS WILL HAVE THE POWER TO INVEST IN DIFFERENT AREAS IN THE FIELD OF FOOD

Yıldız Holding Chairman, Murat Ülker said the following about the acquisition:

“At Yıldız Holding, our priority is to add value to Turkey, and we are always working to present our customers the best.Now our two companies, which are leaders in their own markets, combine their strengths under the Krevitas roof.With this transaction, Kerevitaş will become Turkey's second largest public food company.Fortunately, with Ülker Biscuits, the largest public food company, we fulfill our promises to our consumers and investors.With this acquisition, our priority is to create a good synergy for both Kerevitaş and Besler with this combination.The structure that will be born from this union will become a company that has the financial strength to invest in many different fields in the food field, can pay its debts, has the potential to pay dividends, and can achieve sustained growth.”

About Kerevitaş:

Kerevitas Food Industry, the first company in the retail frozen food sector in Turkey, was established in 1970 in Aksoy, a province of Bursa. The company that got acquisitioned by Yıldız Holding in 2008, is a market leader with the Superfresh brand in the field of frozen food.Kerevitaş went public in 1994, and goes by the code KERVT in the stock exchange.

About Besler:

Besler Food and Chemistry Industry and Trade Co. started to work on an area of 90.000 m2 in 1992 in İstanbul and started to produce edible liquid oils and industrial margarines for the food industry in 1994. Today Besler continues production in its 388.500 ton/year capacity facilities in İstanbul and Adana, and is the leader in oil market with Marsa and its brands; Teremyağ, Bizim Yağ, Luna, Yayla and Ona.

Media resources

Oğuz Aldemir

Yıldız Holding İşlenmiş Et, Dondurulmuş Gıda ve Kişisel Bakım Grubu Başkanı Oğuz Aldemir

Press releases

GODIVA Chocolatier, owned by Yildiz Holding, Enters into an Agreement to Sell Select Assets to MBK Partners to Fuel Future Business Growth Fivefold

20 Feb

MEHMET TUTUNCU TAKES CHARGE AS NEW CEO OF YILDIZ HOLDING

20 Feb

pladis appoints global CEO

21 Jan

pladis appoints global CEO

21st January 2019, London, UK:pladis, one of the world’s leading snacking companies, has appointed A. Salman Amin as global CEO. Salman will b…

Yıldız Holding’s correction to New York Times’ article

8 Jan