16 Nov 2016 --- Japanese food giant Ajinnomoto is to acquire the Turkish food company Orgen for around 220m Turkish lira ($66m), as it looks to cash-in on Turkey's rising demand for seasonings and processed foods.
Orgen makes a variety of seasonings and foods under its flagship brand Bizim Mutfak.
As well as acquiring the rights to the Bizim Mutfak brand name, Ajinomoto is also purchasing Orgen's bouillon, powdered soups, seasonings and powdered desserts businesses.
Ajinomoto is buying 51 percent of Orgen from Yildiz Holding and the other 49 percent from the Orgen family.
The Japanese company said that Orgen will become a subsidiary of Ajinomoto and that it will keep its management structure in place.
Recently, Ajinomoto has been looking to bolster its business in Turkey: in 2013 it acquired a Turkish food company which owns seasoning brand Kemal Kukrer.
Ajinomoto has identified Turkey as a key growth market for its seasonings and processed foods, as well as a starting point to branch out into the Middle East.
It is hoping to tap into the country’s young demographic, with half of its 80m population being under 30 while it is also hoping to benefit from the fact that women are increasingly cooking from home in Turkey.
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