Yıldız Holding, parent company of the Turkish food giant Ulker, announced Monday that it has acquired UK based United Biscuits for 2 billion GBP (3.2 billion USD).
The acquisition of United Biscuits, the world’s sixth-largest biscuits producer, made Yıldız Holding the third-largest biscuit producer in the world.It is also the largest international acquisition made by a Turkish firm.
Yıldız Holding Chairman Murat Ulker said that “an acquisition of this size is not only an important gain for Yıldız Holding, but an important gain for our country.”
Ulker also pointed out that both countries will benefit from the acquisition with their expertise and presence in different markets.
Mainly concentrated on food products, Yıldız Holding is one of the largest Turkish conglomerates with its 58 factories in 10 different countries, 41.000 employees and 15.7 billion TL (7.07 billion USD) net sales as of 2013. Yıldız also gained a global reputation through the acquisitions of famous Belgian Godiva Chocolatier and American DeMet’s Candy.
United Biscuits emerged as a brand in 1948 following the merger of Carr’s (founded in 1830), McVittie Price, and MacFarlane Lang. The company has 14 factories, of which seven of them located in the UK, 7,171 employees and 1.14 billion GBP net sales. United Biscuits is the market leader in the UK with 26 percent market share. The company also has a strong presence in Europe, while its largest foreign markets are Saudi Arabia, Nigeria, India and Australia.
Source Daily Sabah