Cargill to acquire 51% stake in Ekol Gida and accelerate growth in Turkey
The deal affecting Cargill's animal nutrition business will close this summer
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.
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