The Yegin Ciftci Attorney Partnership has advised the Japanese food giant Ajinomoto on its acquisition of the remaining 50% of Kukre Gida ve Ihtiyac Maddeleri Nakliyat ve Ozel Egitim Hizmetleri Ticaret ve Sanayi Anonim Sirketi. Taboglu & Demirhan reportedly advised the sellers on the deal.
According to Yegin Cifti, "Ajinomoto Co. Inc., a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals which already owned a 50 percent stake in Kukre ... signed a new deal to buy the remaining 50 percent for approximately TRY 181 million (approximately USD 51.36 million)." The deal, which was announced on August 18, 2017, gives Ajionomoto — which acquired the first 50% in 2013 — full ownership of Kukre, the parent company of Turkey's long-established food brand Kemal Kuukrer, making it a wholly-owned subsidiary."
The transaction was led by a Yegin Ciftci Attorney Partnership team consisting of Partner Itir Sevim Ciftci and Counsel Kemal Aksel, assisted by Associate Cansu Aras.
In 2013, Ajinomoto Co. acquired a 50% stake in premium brand food company Kükre, and has been strengthening its existing business in Turkey and expanding business in new areas of food.
Editor's Note: After this article was published Taboglu & Demirhan confirmed that it advised sellers Sabri Gulel, Cavit Gulel, and Serkan Gulel on their share of the previously family-owned business. The firm's team was led by Partner Esin Taboglu, supported by Senior Associate Galya Kohen Benbanaste.
