Japanese firm acquires Yıldız Holding's subsidiary

Ajinomoto Co. Inc., a Japanese food and chemical corporation, agreed with Turkish Yıldız Holding to purchase the holding's subsidiary, Örgen Food Industry and Trade Inc., for TL 220 million ($66.282 million).

According to Ajinomoto's statement, the acquisition will be finalized in early 2017. Yıldız Holding CEO Murat Ülker posted a tweet on the acquisition, saying, "The Japanese have heard of us and come. We sold Bizim Mutfak [Our Kitchen] for TL 220 million. Good luck with it."

Örgen Food produces ready mixes of bullion, pudding, soup and seasoning, as well as ketchup, mayonnaise, pasta, baking powder, vanillin, starch, rice flour, powdered sugar, flour and dry legumes. Founded in 1981, Örgen Food merged into Yıldız Holding in 2002. As of 2010, the company is the highest producer of powdered food in Turkey with an annual volume of 45,000 tons.