Söke Un, a prominent brand in Turkey’s flour production and retail sales, has bought 60 percent of the play dough company ChildGen with a certain part of the income coming from the public offering.
Söke, Turkey’s best-known flour brand and one of the most important players in the retail market, started to be traded on Istanbul Stock Exchange on January 12, 2023. Breaking a record in the history of Istanbul Stock Exchange with a demand 118 times the size of the public offering of 581 million TRY, Söke acquired 60 percent of ChildGen, the play dough producer established by women’s initiative, on Wednesday, 29 March. The acquisition amounted to 2,862,586.00 TRY.
Dr. Eren Günhan Ulusoy, Söke Chairman said in this statement on the matter: “During the public offering process of Söke, we stated that we were going to use 7.5 percent of the income we would obtain from the public offering to make strategic investments in other companies. This acquisition, which took place on Wednesday, March 29, constitutes one pillar of the investments. ChildGen is all-natural play dough. This business idea, which a mother came up with in search of a reliable toy for her child, and her subsequent investment inspired us, too. Based on the preference of Söke among ChildGen, we decided to invest in ChildGen.