Yıldız Holding has agreed to sell its 50% share in PNS Pendik Nişasta A.Ş. to Alpinvest. Following the finalization of the transaction, Alpinvest and Cargill will proceed with equal shares in the company. 

In the joint announcement made by the parties regarding the transaction it was highlighted that  Yıldız Holding will strengthen its strategy to focus on snacks and retail and that, combined with the global experience of Cargill, the competence of PNS’ new partner Alpinvest in taking rapid actions will further enable the company to reach its goals.

Yıldız Holding shook hands with Alpinvest for the sale of its 50% share in PNS Pendik Nişasta A.Ş. which was founded in 1993 and has become one of the most valuable companies of the Turkish food industry thanks to its successful growth performance since then. The shares were transferred following the completion of legal approval procedures. Having been founded by the partnership of Cerestar and Ülker in 1993 and begun its operations in  1996, Pendik Nişasta has managed to become one of the captains of starch production in Turkey and Europe. Continuing its operations under the partnership of Cargill and Yıldız Holding since the acquisition of Cerestar, Europe’s leading starch and sugar producer, in 2002, Pendik Nişasta produces many products that are widely used in the food industry. 

Tütüncü: “We continue to add value to the Turkish economy”

In his statement following the company’s sale, Yıldız Holding CEO Mehmet Tütüncü said: “As part of our strategy to focus on the snacking and retail industries which are our main businesses, we are simplifying our portfolio. We grow companies into value-added businesses with our experience and then sell them as highly profitable companies to use the income to support our main businesses. Now, by finalizing the sale of PNS Pendik Nişasta A.Ş, we took a new and powerful step within this strategy. We reached an agreement with Alpinvest, the parent company of Oba Makarna, for the sale of 50% of the shares of PNS Pendik Nişasta A.Ş.  We believe that we will add value to our national economy by using the income generated from the successful sale of PNS Pendik to support the growth of our main businesses. In the upcoming period, we will focus on our main businesses and continue to grow in domestic and global markets.” 

Özgüçlü: “We will think globally and take rapid actions.” 
 
Oba Makarna and Alpinvest Board Member and CEO Alpaslan ÖZGÜÇLÜ said: “As Alpinvest, we will combine the experience gained from the operations of our affiliate Oba Makarna which has been the leader of Turkish pasta export for eight years with the global experience of Cargill to reach success in this industry on the basis of our predictions. We are taking firm steps to contribute to Turkey’s export and economy. We hope that this transaction will be to the best interest of all parties.”