Yıldız Holding, the leading company in the Turkish fast moving consumer goods market and McCormick (UK) Limited, the UK subsidiary of McCormick & Company, Incorporated, a global leader in the spices, wet sauces, seasonings and flavors market, have signed an agreement to enter into a joint venture in Turkey. Completion is conditional upon approval of the Turkish Competition Board. The company, will be formed as a 50-50% owned joint venture, and will develop, source, market, promote, advertise, sell, export and distribute retail herbs and spices products with a view to become the leading player in its segment in Turkey.
“We are pleased to announce this joint venture and delighted to join forces with McCormick in Turkey. McCormick is the ideal partner for our growth strategy mainly in food categories which bear potential by making new investments and building strong partnerships with well-reputed global food companies. We believe that our partnership will generate significant growth opportunities for the benefit of the new business, our customers and Turkish consumers", says Dr. Zeki Ziya Sözen, President Business Development and R&D of Yıldız Holding. “We are extremely confident about achieving the venture’s growth potential because both partners are at the forefront of emerging global trends and standards”, adds Dr. Zeki Ziya Sözen.
“This strategic partnership with Yıldız Holding is a tremendous opportunity for McCormick to pursue its growth strategy in Europe and participate in the rapidly growing Turkish retail market, a promising market for the herbs and spices category.” comments Malcolm Swift, President McCormick EMEA. “I am convinced that combining McCormick’s global expertise in herbs and spices sourcing, manufacturing, product innovation and brand marketing and Yıldız Holding’s unique knowledge and distribution experience in Turkey, will enable us to build a leading position for the new company in the Turkish herbs and spices market.”
Yıldız Holding: Yildiz Holding, Turkey’s leading fast moving consumer goods company, started its activities producing Ulker biscuits in 1944. Yildiz Holding now operates in a wide range of areas ranging from biscuits to chocolates, soft drinks to milk and dairy products, baby food to personal care products and packaging with 65 production and marketing companies. Being the biggest purchaser of raw materials in Turkey with this size, Yildiz Holding contributes to the living of 100,000 people directly and 500,000 people indirectly. Engaging in production in a total of 53 plants domestically and abroad, Yildiz Holding’s companies continue to be the leaders not only in Turkey but also in the region.
For more information: www.ulker.com.tr
McCormick: McCormick & Company, Incorporated is a global leader in the manufacture, marketing and distribution of spices, seasonings, specialty foods and flavors to the entire food industry - to foodservice and food processing businesses as well as to retail outlets. Since 1996 McCormick has had a 50% interest in Turkey-based McCormick Kutas Food Service Limited producing condiments for the industrial and foodservice markets. The new joint venture confirms McCormick’s commitment to the Turkish market.
For more information: www.mccormickcorporation.com
Media contacts
Yıldız Holding Zuhal Şeker, Corporate Communication General Manager
Telephone: +90 212 274 29 33 , E-mail: zuhalseker.tucker@ulker.com.tr
Bahar Erbengi, Corporate Communication Director
Telephone: +90 212 274 29 33 , E-mail: bahar.erbengi@ulker.com.tr
McCormick Marylène Jumel, EMEA Communications Director
Telephone: +33 6 26 86 41 93, E-mail: mjumel@fr.mccormick.com