Kervan Gıda has completed its first overseas acquisition following the public offering. In a statement to KAP (Public Disclosure Platform), the company announced that it has acquired the shares of ZPC Otmuchów, one of the leading Polish soft candy producers, and its subsidiary PWC Odra.
Soft candy producer Kervan Gıda, which exports to 85 countries, made its first acquisition in line with its global growth targets announced after it was offered to the public. Kervan Gıda is now one step closer to its global goals with the acquisition, which was realized to take advantage of customs tax advantages, to distribute geographical risk, and to strengthen the position of the Bebeto brand in the European modern channel.
Recently announcing that they were planning to make a new investment in Europe with 55 percent of the public offering revenue in the past months, Kervan Gıda has completed the acquisition process of ZPC Otmuchów, one of the leading Polish soft candy manufacturers, and its subsidiary PWC Odra.
In its statement to the Public Disclosure Platform, Kervan Gıda announced that it has acquired 100 percent of Tornellon Investments, to which 64.93 percent of ZPC Otmuchów has been transferred, and 26.95 percent of PWC Odra, a subsidiary of ZPC Otmuchów.
In the acquisition made through Kervan International AB, a 100 percent subsidiary of the company, Kervan Gıda paid 13 million 258 thousand 93,63 Euros for the 64.93 per cent of the shares of ZPC Otmuchów it has acquired. One hundred per cent of the shares were valued at 23.5 million Euros. The company announced that the acquisition of 26.95 percent of the shares of PWC Odra was realized over a share value of 3.8 million Euros and the total price paid was 17 million 58 thousand 93.63 Euros. With this acquisition, Kervan Gıda increased its annual production capacity of 72 thousand 300 tons by approximately 52 percent.