Hero acquires yildiz holding's stake in Hero gida in TurkeyPublished: Monday, March 10, 2014
Lenzburg, 10th March 2014 – Food Group Hero has signed an agreement to purchase Yıldız Holding`s 50% stake in the joint venture company Hero Gıda in Turkey. Hero Gıda itself will not change, except for the separation of the Ülker Bebe biscuit brand, which will remain with Yıldız Holding.
Hero Gıda was jointly established by Hero AG and Yıldiz Holding and has been trading successfully for more than 10 years. The acquisition is a strategic move to enhance Hero`s position in global infant nutrition and underlines the company`s commitment to the region. The acquisition, which is subject to regulatory approval, also strengthens Hero`s on-going participation in the infant nutrition market in Turkey.
Hero Group produces and sells baby and toddler foods under various Hero brands, in more than 20 countries around the globe. In Turkey, Hero Gıda has sold infant food under the Ülker Hero Baby brand for more than ten years and operates its own factory in Ankara. As a result of the acquisition, these products, with the exception of Ülker Bebe biscuits, will be offered exclusively under the Hero Baby brand.
Rob Versloot, CEO of Hero Group comments: “This strategic acquisition is an exciting opportunity for Hero’s core infant food business and will contribute to the Group’s continued strong performance in the region. Hero Gıda has completed a very successful 2013 and is well positioned to take the business to the next level.”
He continued: “There will be no impact to our customers as the infant food products that are currently sold under the Ülker Hero Baby brand will change in name only. Customers can expect exactly the same quality products that they currently enjoy on the same supermarket shelves.”
Further information available from:
Rob Versloot, Chief Executive Officer
Tel: +41 62 885 53 80
Fax: +41 62 885 54 30