Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

Turkey’s Oyak buys hazelnut major Sagra, plans sustainable growth

by DAILY SABAH

ISTANBUL Mar 29, 2021 - 3:41 pm GMT+3
Products belonging to the famous brands seen on shelves in a market in Istanbul, Turkey, Feb. 2019. (Shutterstock Photo)
Products belonging to the famous brands seen on shelves in a market in Istanbul, Turkey, Feb. 2019. (Shutterstock Photo)
by DAILY SABAH Mar 29, 2021 3:41 pm
RECOMMENDED
People shopping at a marketplace, in Kuşadası, Aydın, western Türkiye, May 12, 2023. (IHA Photo)

Türkiye's inflation slips below 40% for 1st time in 16 months

INFLATION

Turkey’s military pension fund, Oyak applied to the Turkish Competition Board (RK) to acquire the Tadelle, Sarelle and Gol brands along with Sagra, a brand renowned for its hazelnut and chocolate products in Turkey, adding to them to the Oyak Group of companies by inking a sales agreement with Sanset Gıda, the group said in a statement Monday.

The statement called the move an important step in Turkey's food sector, which is worth over TL 120 billion ($14.65 billion) and has an export goal of TL 40 billion in 2023, noting that the sector has become even more important during the pandemic.

Oyak, which continues to support the Turkish economy with its strategic investments, included the foods sector into its sustainable growth plans with its latest moves.

Süleyman Savaş Erdem, the Oyak general manager, whose views were included in the company statement, said that they already had investments in the agricultural sector and now are set to grow in the food sector too.

"We will carry Sagra, an 85-year-old prominent brand, much more further,” he said.

Erdem, who said that the food sector is one of the sectors to be least affected by the COVID-19 pandemic, noted that although some 75% of the world’s hazelnut production areas are located in Turkey, according to 2018 data by the United Nations Food and Agriculture Organization (FAO), only around 60% of world hazelnut production is being met by Turkey.

“We aim to increase the productivity in the field by benefitting from our research and development (R&D) works and make a contribution to the growth of the sector,” he said.

Erdem stressed that the target is to bring together Oyak’s power and Sagra’s 85 years of knowledge and experience in the food sector, prioritizing their chocolate and hazelnut-based products, and moving the brand forward while increasing the product range by benefitting from the opportunities in the market and ultimately reaching a significant volume in food exports.

Highlighting that the food sector is not just a strategic sector in Turkey but across the world, Erdem said that the world’s food giants estimate that the sector’s potential will be multiplied in the near future in comparison to current figures.

“Even though the agricultural and food sectors are two sectors that complete one another, the food sector alone in Turkey has grown by 35% and reached TL 122.7 billion in 2020,” he added.

RECOMMENDED
People shopping at a marketplace, in Kuşadası, Aydın, western Türkiye, May 12, 2023. (IHA Photo)

Türkiye's inflation slips below 40% for 1st time in 16 months

INFLATION
  • shortlink copied
  • Last Update: Mar 29, 2021 4:44 pm
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    oyak food sector investment sustainability sagra tadelle sarelle hazelnuts
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    Brazil's Dani Alves in action during the FIFA World Cup Qatar 2022 Round of 16 match between Brazil and South Korea at Stadium 974, Doha, Qatar, Dec. 5, 2022. (Getty Images Photo)

    Dani Alves remains in jail as new rape case's harrowing details unfold

    DANI-ALVES
    A fragment of the statue of Pan, the Greek god of shepherds and flocks in Greek mythology, discovered in Saraçhane Archaeology Park, Istanbul, Türkiye, June 1, 2023. (DHA Photo)

    Excavations in Istanbul unearth statue of Greek deity Pan

    pan

    Sudan's paramilitary forces take over Khartoum museum

    SUDAN

    'Ulysses of Istanbul': Celebrating James Joyce's masterpiece

    james-joyce
    No Image
    Floods, demonstrations and sports: Top pictures of the week
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021