Istanbul, Sep 28 (DHA) - Turkey’s Yıldız Holding has reported it decided to sell a 90 percent of stake in its beverage companies to Japan’s DyDo DRINCO for 335 million Turkish Liras in a press release on Sept. 26.
“Yıldız Holding has decided to sell some 90 percent of stakes in its beverage units, Della Gıda, Bahar Su and İlk Mevsim Meyve Suları, to Japan’s DyDo DRINCO in line with its strategy to focus on its main business, snacks” it said.
Yıldız Holding, which has become the world’s third largest cookie company after its acquisition of United Biscuit last year, said it will continue to take similar steps to specialize on snacks.
“In addition to acquiring 90 percent of the shares of each of the three beverage manufacturing companies owned by Yıldız in order to make them its subsidiaries, DyDo DRINCO will acquire eight beverage brands owned by the acquired companies. In this way, DyDo DRINCO will gain a business base in Turkey as well as some of the country’s premier beverage brands” Japan’s company said in a written statement on its website on Sept. 24.
After the transfer of shares, the companies will continue their Turkey operations and the beverage brands will be sold under the name of DyDo DRINCO.