TURKEY: Biscuit giant Ülker signals more acquisitions and sales to come | Progresiv
Yıldız Holding’s Food and Beverage Group CEO Mehmet Tütüncü speaks to the press in the aftermath of the sale of dairy brand and prominent milk producer Ak Gıda to French giant Lactalis, stating that more options to acquire and sell “are on the table.” 
Speaking on the 80 percent block sale in favor of a previously planned IPO, Tütüncü expressed that, “The firm [AK Gıda] had fulfilled its potential the value,” adding, “This is not about obtaining warm cash but investment. The move will drive the milk industry forward.”
The food and beverages group CEO underlined that the sale would inevitably be a return for Yıldız Holding, publicly better known for its brand name Ülker, to its core business which includes cookies, chocolates, gum as well as other snacks and not pertaining to any financial sector. “Yıldız Holding does not have any financial concerns. We will take advantage of any opportunity we find suitable.” Tütüncü signaling that further sales and acquisitions could follow. “There are many projects to buy and sell on the table.”
The world’s third largest biscuit and snacks manufacturer had made international headlines when it acquired UK-based United Biscuits in November for over 3 billion dollars. In 2007 it acquired Belgian chocolate firm Godiva for 850 million dollars. The holding bought the shares of distributor G2M. (www.business.bgnnews.com)
