Ulusoy Flour, a leader in the flour industry, acquired Söke Un, which produces flour only for the domestic sector. The company was sold for 168 million 900 TL in cash and 650 thousand Euros to be paid in 2023.
Ulusoy Flour announced that it has acquired all the shares of Söke Un, which was founded in 1963 and was acquired by British private equity fund Mediterra Capital Partners in 2015.
The statement made by Ulusoy Flour to the Public Disclosure Platform (KAP) went on to read: “Our company and Moms Kitchen International S.a.r.l., the controlling shareholder of Söke Değirmencilik Sanayi ve Ticaret A.Ş., and other shareholders have agreed and signed a purchase contract for the acquisition of all shares of Söke Değirmencilik Sanayi ve Ticaret A.Ş. for 168.900.000 TL in cash due on 11.01.2022 and 650,000 Euros due on 11.01.2023. All of the shares of Söke Değirmencilik Sanayi ve Ticaret A.Ş. have been acquired by Ulusoy Un Sanayi ve Ticaret A.Ş.”
Talking about the acquisition, Ulusoy Flour's Chairman Dr. Eren Günhan Ulusoy said: “This acquisition is a strategic move for us. With the acquisition of Söke Un, we will have increased our wheat processing capacity of 2100 tons/day up to 3200 tons/day.
Ulusoy Flour's acquisition of Söke Un, which was transferred to British Mediterra Capital Partners in 2015, at a time when the Turkish economy needs to show growth performance with investments has brought our company one step closer to its targets of becoming 'a global food company' in its 100th anniversary.”