The company announced that it had agreed to acquire the remaining stake in its subsidiary as it reported its Q3 results last month.
“Turkey is one of the biggest dairy markets in the world,” CFO Klaus Pedersen said at that time. “They have a big cheese market as well, and it’s a quite strong gateway into the Middle East. In the colours and beverages market it is strong too.”
EMEA group vice president Jacob Vishof Paulsen said in a statement: “We have been present with the Peyma Chr-Hansen Joint Venture in Turkey since 1989. With this acquisition we can fully integrate operations into the rest of the Chr. Hansen organization, sustaining the whole Group’s success in the future.”
The subsidiary’s general manager and shareholder Toni Ciprut has agreed to support the management team as a consultant over the next two years.