Cargill’s animal nutrition business has agreed terms to acquire a majority stake in Ekol Gida, which operates in the premixes and animal feed additives market in Turkey. The deal, which is subject to regulatory approvals, is expected to close in the summer of 2015.
According to Mark Poeschl, vice president and group director of Cargill's animal nutrition business: "The commercial focus will be on Turkey and selected export markets."
"Customers will gain access to Cargill's extended product portfolio and technical expertise," Poeschl said.
Serhad Celik, Ekol Gida's general manager and one of its founding shareholders said: "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."
After a transitional period, the business will operate under the global Provimi brand in the market.
No financial details have yet been disclosed.
To comment, login here
Or register to be able to comment.