Yıldız Holding bought a 64 percent share of G2M, which operates in the out-of-home consumption sector, in the Actera private equity fund. Yıldız Holding signed an agreement for the acquisition, and the share transfer will take place after the approval of the Turkish Competition Authority. Melih Şahinöz, a co-founder of G2M, will keep his position as the partner of the company.
Stating that the out-of-home consumption sector has been one of the fastest growing sectors in the world in recent years, Mustafa Yaşar Serdengeçti, Yıldız Holding retail group president, said, "G2M is one of the most important actors in the sector in Turkey. It has strong relations with brands and suppliers that are outstanding in their fields. After the acquisition, the same working system will continue." Cem Karakaş, Yıldız Holding CFO, added: "Our operations in the out-of-home consumption sector, which is growing fast in Turkey, will develop further with the acquisition of G2M. Yıldız Holding's turnover gained from the out-of-home consumption sector will be nearly doubled with G2M, which recorded TL 600 million [$230.67 million] in consolidated turnover in 2014."
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