Thu, 23 Jan 2014
TURKEY – An EU based development investor has decided to invest in Turkey’s $3.6 billion a year dairy market.
Leading Turkish dairy producer and retailer Yörsan has approved a partnership between the European Bank for Reconstruction and Development and the Abraaj Group in becoming a majority stakeholder.
The move is the first involvement of the EBRD into the Turkish dairy sector, an industry forecast to grow 8.6 per cent until 2017, and its first co-investment with the Abraaj Group.
Partnering with the EBRD has been linked with offering the Abraaj Group market access and knowledge of the Commonwealth of Independent States region, which features Russia and Kazakhstan.
“Yörsan is a long-established and respected brand in the Turkish dairy sector,” said Omar Syed, managing director at the Abraaj Group. “We believe the company has great potential to quickly become the market leader in the higher-value dairy segment and a world class player.”