Ajinomoto Co. buys stake in Turkish food company

Ajinomoto Co., Inc. has acquired a 50% stake in KüKRE GIDA VE ?HT?YA? MADDELER? NAKL?YAT VE ?ZEL E??T?M H?ZMETLER? T?CARET VE SANAY? ANON?M ??RKET? (Kükre A.?.), a premium brand food company in Turkey. Its expertise in product development and production technology coupled with the brand and distribution capabilities of Kükre A.?. will maximise development of new products specifically for markets in the Middle East and Central Asia.

According to Ajinomoto, the seasonings and processed food market in these regions will grow rapidly in the future. Estimates put this market at TRY 65.0 billion in 2012.

Kükre A.?. produces and sells vinegars and fruit sauces, pickles and other products. It has a main KEMAL KüKRER product lineup that is popular in Turkey. Its distribution network covers some 30,000 retailers in Turkey and it also has strong direct marketing links to the restaurant channel, nationwide mass merchandiser chains and retail stores.

This is not the first time for Ajinomoto to enter the Turkish market. In 2011, it opened the Ajinomoto Istanbul Food Sales Ltd for restaurant-use seasonings It has acquired Kükre stakes for approximately 60 million Turkish Lira (TRY)* (about JPY 2.9 billion). It aims for a market of JPY 5.0 billion by 2018 and plans a further rollout into the Middle East and Central Asia as new markets to follow ASEAN and South America.

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