Trakya Et ve Süt Ürünleri San. ve Tic. A.Ş.’s acquisition of 77 percent of its shares by Siniora Food Industries.
BURSA (İGFA) – Competition Board, Trakya Et ve Süt Ürünleri San. ve Tic. A.Ş.’s 77 percent stake was taken over by Jordan-based Siniora Food Industries. Siniora Food Industries Company, a subsidiary of Jordan-based Arab Palestine Investment Company (APIC), Trakya Et ve Süt Ürünleri San. ve Tic. Inc.’s shares by purchasing 28.3 million dollars, officially started its activities in Turkey.
APIC President Tarek Aggad said in a statement on the subject; this acquisition regional and is a part of the global scale increase its market share strategy, Turkey markets of Europe and said there was an important position for themselves in reaching the global market.
Siniora Food Industries Group CEO Majdi Al-Sharif; He said that the addition of Polonez to Siniora’s portfolio will increase the value of both brands. Al-Sharif announced that they expect Siniora’s revenues to increase by approximately US $ 50 million at the end of the year with this acquisition.
Boran Uzun, Chairman and CEO of Polonez, said, “Siniora was founded in 1920, a brand with a history of years. This investment is a strategic step that will support the growth strategy of both brands and increase their competitiveness. With this strength, we will strive for leadership in the delicatessen meat products market. As Siniora Group through Turkey, in line with our expansion strategy in Europe to reach the global market and will continue our investments. ” said.