Japanese food company Nissin Food has acquired a 50 percent stake in Turkish pasta producer Bellini Gida, a subsidiary of food and beverage conglomerate Yildiz Holding, for an amount of USD 23.5 million, according to press release. Active in 11 countries with 29 production plants, Nissin Food will try to tap into Turkey’s untouched instant pasta and noodles market, estimated to gain popularity among the country’s young and growing population in the coming years.
Population of Turkey is expected to grow 1 million per year for the next 20 years, and that will make instant foods a viable choice of meal for the country’s young and busy workforce with increasing income levels. The median age of the population in Turkey is 29.7 and country’s growing economy and per capita income of over USD 10,000 presents a high growth potential.
The joint-venture is scheduled to commence operations in October with products made available on Yildiz Holding brands’ sales network throughout Turkey. Expanding to African and the Middle Eastern markets through its partnership with Bellini Gida is also on Nissin’s agenda.
Source : Zaman