Unilever sells Turkey-based company

ISTANBUL

Unilever has sold its Istanbul-based company UNIPRO to Sweden-based AAK, one of the world’s leading producers of high value-added vegetable oils and fats.

UNIPRO has been a leading supplier of oils and fats to the industrial and bakery markets in Turkey and the surrounding region for around 28 years. UNIPRO had revenues of around 75 million euros in 2012.

“We have been strengthening our product portfolio and focusing on our core businesses for the last years. In accordance with this strategy, we have decided to sell UNIPRO to AAK, which [has revenues of] over $2.5 billion and employs more than 2,000 people,” Unilever Turkey CEO İzzet Karaca said in a statement released July 26.

The acquisition of UNIPRO includes 10 established brands, a core management and sales organization, all related know-how and the company name for bakery and industrial fats, but does not include a factory in the industrial Thracian district of Çorlu. Unilever will continue to produce UNIPRO-branded products there as a supplier for AAK.

The acquisition is expected to be completed in the third quarter of 2013 following approval by the Turkish Competition Council.
Unilever has sold its Istanbul-based company UNIPRO to Sweden-based AAK, one of the world’s leading producers of high value-added vegetable oils and fats.

UNIPRO has been a leading supplier of oils and fats to the industrial and bakery markets in Turkey and the surrounding region for around 28 years. UNIPRO had revenues of around 75 million euros in 2012.

“We have been strengthening our product portfolio and focusing on our core businesses for the last years. In accordance with this strategy, we have decided to sell UNIPRO to AAK, which [has revenues of] over $2.5 billion and employs more than 2,000 people,” Unilever Turkey CEO İzzet Karaca said in a statement released July 26.

The acquisition of UNIPRO does not include a factory in the industrial Thracian district of Çorlu. Unilever will continue to produce UNIPRO-branded products there as a supplier for the Sweden-based company.
The acquisition is expected to be completed in the third quarter of 2013.