Yıldız Holding's Pladis plans to go public in London

Published 08.06.2016 23:28

Pladis, established in London by Turkey-based food manufacturing conglomerate Yıldız Holding with the aim of growing globally, plans to issue an Initial Public Offering (IPO) within three or four years to be among one of the companies listed in the FTSE 100, the Financial Times Stock Exchange 100 (FTSE 100) Index.

The owner of Godiva chocolate and McVitie's biscuits, Yıldız Holding, aims to increase its competitive strength in international markets through Pladis, which gathers the Godiva, DeMet's, United Biscuits and Ülker brands under the same roof as well as supporting Yıldız Holding in terms of approaching further to international markets and investors. In his remarks to Reuters, Pladis CEO Cem Karakaş said that their aim is to become the most valuable snack food manufacturer in terms of market share price on the London Stock Exchange, saying, "Pladis is a global company and London is a global city."

While Yıldız Holding currently holds 100 percent of the total shares of Pladis, after going public, Yıldız Holding wants to retain the controlling stake in the company. Further, Karakaş did not share the details regarding the size of the public offer.

Moreover, attracting a wide investor net, Pladis aims to grow by 17 percent in 2016, marking the highest sales volume in its sector.

Offering new cake products in England, transforming the McVitie's brand into a global trademark, increasing sales in the U.S. and growing in regions like the Middle East and Africa are included among the company's plans.

Today, Yıldız Holding is active in 14 countries, has 77 plants, 300 brands and more than 1,000 sales points as well as employing 50,000 people. In January, speaking at a press conference, Karakaş said that the total turnover of the group was $12 billion in 2015 and $5.2 billion of this was obtained from the brands that are currently under Pladis. Yıldız Gıda had an income of $8.2 billion last year, and the total number of employees at DeMet's, Godiva, United Biscuits and Ülker is around 26,000. "We plan to increase the turnover from 3.5 billion pounds in 2015 to 5.5 billion pounds in 2018 with a 17 percent increase and earnings before interest, depreciation and tax from 343 million pounds to 900 million pounds with a 26 percent increase," Karakaş added.

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