Merko Gida in joint venture talks with Pernod Ricard

Merko Gida, the Turkish food and beverage producer announced on July 24 that it would establish a joint venture with French beverage group Pernod Ricard. "The final version of an agreement to set up a joint venture was approved by our management board, paving the way for the other side to sign,"​ Merko Gida said in a statement. Merko Gida, which makes concentrated fruit juices and frozen food, and Sias-Mpa SA, a unit of Pernod Ricard, would be 50-50 partners in the new venture and would each elect two members to the new company's board. "Sias-Mpa is the world's largest concentrated fruit juice producer with a foundation of 24 production facilities in 16 countries,"​ Merko Gida said. The new company, to be called Merko Sias Gida, will have an initial capital of 120,000 euros, Merko said, and it expects invest $1 million to upgrade equipment and lease land for a new plant in industrialised northwestern Turkey.