Japan’s Ajinomoto acquires Kükre in Turkey
Japanese food company Ajinomoto has acquired an additional 50% stake in Turkish food company Kükre for $52.1m.
Added to Ajinomoto’s subsidiary portfolio, the acquisition is expected to help the Japanese firm to accelerate its business expansion in Turkey and strengthen operations in the Middle East.
In 2013, Ajinomoto acquired a 50% stake in Kükre to strengthen its existing business in Turkey and expand business in new food product sectors.
Kükre manufactures and sells seasonings such as vinegars, fruit sauces, pickles and other products.
Ajinomoto entered the Turkish market in 2011 by establishing its own subsidiary, Ajinomoto Istanbul Food Sales, to sell seasonings for restaurants.
Ajinomoto recently acquired all the shares of another Turkish food firm, Örgen Gida Sanayi ve Ticaret.
The Japan-based company also plans to further expand its business in Turkey by strengthening cooperation among Ajinomoto Istanbul Food Sales, Kükre and Örgen.
Ajinomoto intends to add Kükre’s liquid seasoning business Kemal Kükrer to Örgen’s Bizim Mutfak brand business for manufacturing bouillon, powdered soups and other products.
The investments in Turkey and the Middle East are part of the company’s FY2017-2019 Medium-Term management plan.
Founded in 1909, Ajinomoto currently operates in 30 countries and regions, as well as reported net sales of $10.07bn in fiscal 2016.