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Turkish giant leaves pasta and baked goods sector

04 October 20192 min reading

Tat Gıda under Turkish giant – Koç Group – decided not to produce pasta and baked goods. The company decided to sell its pasta and baked goods arm to Durum Gıda for 8 million Turkish liras excluding VAT, and subjected to the approval of the Competition Board of Turkey.

Tat Gıda, one of the Koç Group’s companies, released a statement on the Public Disclosure Platform. “The company will stop its production and sales activities at pasta and baked goods’ arm because of the low share of turnover and profitability,” the company said. It added the following: “Our board decided to leave the sector of pasta and baked goods by taking into account its lower share and profitability in general turnover by taking into account the company’s long term business plans and decided to focus on tomato sauce and tinned goods and milk and dairy products’ sector. The company stops its production operations on September 2, 2019 at Pastavilla, showing activities at “pasta and baked goods” at Bornova district of Izmir province and stops its sales operation after the finalization of brand transfer. Brands of Pastavilla, Kartal, and Lunch & Dinner will be transferred to Durum Gıda, not related to our group, for 8.000.000 TL + VAT in cash decided with negotiation – the sale which is subjected to approval of the Competition Board of Turkey. In the future, the factory area and equipment for production will be sold if conditions are suitable.”

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