Grocery platforms Getir, Everli to expand operations after successful funding rounds

EUROPE – Europe-focused grocery platforms Getir and Everly have successfully completed their respective funding rounds, as they look to expand their operations and enter new markets. Getir completed a US$300 million Series C funding round which was led by Sequoia Capital and repeat investor Tiger Global. According to a statement from the company, the funds will be used to support its growth in Turkey and the UK.  Istanbul-based Getir entered the UK market in January this year, launching in parts of central London. The technology company offers a ten-minute grocery…

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Mondi acquires Olmuksan to bolster position in growing Turkish corrugated packaging maker

TURKEY – British multinational packaging and paper group Mondi has agreed to acquire 90.38% of the outstanding shares in Olmuksan International Paper Ambalaj Sanayi ve Ticaret A.Ş from International Paper for a total consideration of €66 million (about US$81.46 million). The sale is the culmination of plans by Tennessee based International paper (IP) to reorganize its business interests in Turkey. The company had issued a notice in October 2020 indicating it was exploring the sale of its stake in Olmuksan. That notice stated IP was evaluating “various alternatives for the…

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IDMA and VICTAM EMEA exhibition to go on in March 2021 as scheduled

TURKEY – IDMA and VICTAM EMEA 2021, which will be organized in Istanbul, Turkey by Parantez International Fairs and Victam International, is set to proceed as planned despite the challenges of the Covid-19 pandemic. According to the organisers, the global economy has suffered greatly this year due to the Coronavirus pandemic. However, the World Trade Organization (WTO) stipulates that a clear recovery will be observed in 2021, as economies around the World will recover. The food processing and milling industry, whose vital importance in terms of world food security has…

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Turkish fruit producer Anadolu Etap secures US$67m to fuel growth

TURKEY – Anadolu Etap, the leading fruit producer in Turkey, has secured a €60 million (US$67 million) financing arrangement with the European Bank for Reconstruction and Development (EBRD) to ensure greater flexibility and provide additional resources for the company’s growth. The credit facility, of which half has been syndicated to the Dutch development bank FMO, is also expected  to boost Turkey’s agriculture sector. Anadolu Etap is a joint venture between major Turkish companies Anadolu Group and Özgörkey Holding. The company supplies fruits and produces fruit puree, concentrates and juices throughout…

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Zambian government partners with Turkish company to develop Food Complex City

ZAMBIA – The government of Zambia has partnered with Turkey’s Molino Mechanical Industry and Trade incorporated to develop a multi-million Food Complex City FCC in the country aimed at producing cheaply priced mealie-meal by January next year. According to Lusaka Times, the project is under the framework of a Memorandum of Understanding (MoU) for the development of a food processing plant signed between Molino Mechanical Industry and Trade Incorporated and Zambia National Service (ZNS). The proposed FCC Turkey project will have the capacity to produce 500 thousand metric tonnes of…

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Palsgaard acquires Turkish food ingredients distributor in European growth drive

TURKEY – Palsgaard, a Danish emulsifier ingredients supplier, has acquired Teknaroma, a Turkish food ingredients distributor enabling the company to augment its European operations and shore up sales. The companies did not disclose the financial details of the transaction. However, Palsgaard revealed that it will acquire 90% of the Teknaroma shares, with Teknaroma’s previous owners retaining 10%. As a result of the takeover, Teknaroma Managing Partner Cengiz Altop will become Managing Director of Palsgaard Teknaroma. The deal reinforces a long-standing relationship between the two parties, with Teknaroma having had exclusive…

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Agro-industrial group Sodrugestvo secures US$90m for regional expansion

EUROPE – Luxembourg-headquartered agricultural commodity processor and trader Sodrugestvo Group has secured US$90 million in financing from the European Bank for Reconstruction and Development (EBRD) to support it regional expansion. Founded in 1994, Sodrugestvo Group owns some of the largest soybean processing complex in Europe and ranks among the top 20 soybean processors in the world. The company has more than 30 subsidiaries located in some 20 countries, including in Belarus, Brazil, Paraguay, Poland, Russia, Serbia, Turkey and Ukraine through which it manufactures proteins and oils and distributes agricultural commodities…

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Firmenich opens expanded facility in Turkey as it celebrates 30 years

TURKEY – Swiss flavors and fragrances company, Firmenich has unveiled a new and expanded facility in Istanbul Turkey as it celebrates 30 years of growth and innovation in the country. With a focus on innovation and speed-to-market, the facility will serve Firmenich’s customers in Turkey as well as Europe and the Middle East. It features state-of-the-art laboratories to drive innovation and research in food and flavors applications. The facility is designed according to the WELL Building Standard™, the global benchmark for employee wellbeing in the workplace. “Following three decades of…

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Alapala’s R&D center receives innovation award from Turkish authorities

TURKEY – Alapala, one of the leading brands in flour milling equipment and mill projects has received the R&D Center Certificate from the Turkish Ministry of Industry and Technology. According to a World Grain report, Alapala will be able to expand its investments on innovative solutions for the agriculture and food industry with a focus on the development of new milling machinery. This will in return play a critical role in boosting the Turkish economy through machinery exports. The certificate reinforces Alapala’s R&D in high performance machinery featuring minimized maintenance…

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Turkey’s food exports to China increases by 100% over 3 years

ASIA – Turkey’s food exports to China have risen 100% from US$72 million in 2014 to US$144 million realised by the end of 2017, according to the Aegean Exporters Association. Growth was seen in exports involving meat, fish, dried fruits, olive and vegetable oil, fruit and vegetables, and hazelnut. Speaking on the development, Birol Celep, vice president of the association said that China, whose annual food import is nearly US$50 billion remains one of the priority markets for Turkey’s export. According to him, demand for high-quality and healthy food from…

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