World Bulletin/News Desk
Turkish food and beverage group Yildiz Holding has become the third-largest biscuitmaker in the world, according to a statement on the company’s website on Monday.
The group on Monday announced the acquisition of UK-based United Biscuits. Yildiz Holding, which has a number of other biscuit producers in its group, including Ulker, Godiva and DeMets, is clearly now a major global food producer.
Founded in 1948, United Biscuits has 14 plants, of which seven of them are located in U.K., with over 7 thousand workers in total. The company’s global sales reached $1.83 billion in 2013.
Yildiz Holding plans to implement an independent management model at United Biscuits, a strategy which worked successfully for the group in its takeover of Belgian Godiva's operations.
Share prices of Ulker, the flagship firm owned by Turkish food and beverages group Yildiz Holding, soared by seven percent on Tuesday.
In the early hours of Tuesday, the value of Ulker’s shares traded on Borsa Istanbul jumped by seven percent, carrying the market value of the company to over US$2.6 billion.
Starting the day at 16.50 Turkish lira ($7.42), Ulker share prices took only 30 minutes to rise to 17.85 Turkish liras by 8:50 am (CET time.)
Last Mod: 04 Kasım 2014, 12:00