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Kraft buys Turkish snack foods

23-Sep-2002

Kraft Foods, the US-based branded food and drink producer, has announced the acquisition of Kar Gida, a Turkish snack food producer, for an undisclosed sum.

Kraft said that Kar Gida had a strong position in the Turkish salted snack food market with its potato and corn chip brands Cipso, Pekos, Patos, Critos and Cerezos.

 

"This is part of Kraft's strategy to rapidly expand our food portfolio in high growth developing markets and we are delighted to grow our presence in a country we consider key to our growth for the region," said Maurizio Calenti, president of Kraft's Central and Eastern Europe, Middle East and Africa region.

 

"This business will significantly increase our scale in Turkey by complementing our existing beverage and chocolate portfolio with strong salted snacks brands."

 

Kraft acquired Kar Gida from the Kar Group, a privately owned conglomerate of companies which span financial and recreational services, food, agriculture, aviation, tourism and construction. In 2001, Kar Gida's revenues were around $35 million (€35.7m), and the company had some 500 employees at its Istanbul plant and in several regional offices throughout Turkey.

 

Kraft Foods operates in Turkey through its wholly owned subsidiary, Kraft Foods Turkey, which markets and sells a number of brands such as Milka chocolate, Jacobs coffee and Tang powdered beverages. Through its minority-owned company, Marsa, the company sells margarines and edible oils under the brands Evin, Luna, Huner and Ona.

 

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