4-7 September, 2019

27th International Food Products & Processing Technologies Exhibition

Tüyap Fair Convention and Congress Center
Istanbul, Turkey

News

02 January 2018

Turkish food & drink market roundup: January 2018

Turkey’s food sector is packed with potential, representing roughly 20% of Turkey’s $857.7 billion GDP. Worth hundreds of billions of dollars a year, the industry is always exceptionally busy.
 
2018 will no doubt be another busy year for Turkey’s food and drink players. Let’s check out some of the big food and drink stories coming from Turkey from the last few weeks of 2017 into the new year.
 

Turkish food industry news round up

 
Dubai’s Abraaj Group acquires KFC Turkey
 
Dubai-based investment body the Abraaj Group has acquired KFC Turkey from America’s Yum Brands. As part of the deal, the private equity fund has taken control of 104 KFC restaurants across Turkey, including branches in Istanbul, Ankara, and Izmir.
 
Since 2015, Yum Brands expanded its KFC franchise system, boosting the fried chicken chain’s nationwide presence. Yum Brands’ original aim was to reach 400 restaurants across Turkey by 2020.
 
Abraaj is planning to spend the rest of its $500 million Turkish investment fund in 2018, having acquired transport and logistics firm Netlog Lojistik in July 2017.
 
Russia sets Turkish tomato export date
 
Russia is to allow imports of Turkish tomatoes by early 2018, Russian Deputy Prime Minister Arkday Dvorkovich said in late 2017.  This comes after a year full of intense negotiations, following Russia’s ban on Turkish produce in 2016.
 
Now, Russia is gearing up to purchase up to 50,000 tons of Turkish tomatoes in 2018, allaying Turkish producers’ fears that the Russian market would remain closed. Thankfully, this is not the case.
 
Russia placed a ban on Turkish fruit and vegetable imports in 2016. This has been lifted on the bulk of Turkish agricultural goods, but tomatoes have remained under embargo since 2016. Before the ban, Russia imported around $250 million worth of tomatoes from Turkey a year.
 
Turkish olive producers break export record
 
Turkish olive and olive oil producers are seeing in 2018 in style following a record-breaking year for their industry. Export values tripled across 2016-2017, reaching a new peak of $174 million.
 
Turkey is aiming to reach the top spot in global table olive production, and second place in olive oil output. Following on from high crop yields in 2017, Turkey is confident it will meet these goals.
 
One key market Turkish producers have in their sites is the Middle East. Regional export targets were not met, despite Turkey’s worldwide oil success, so Turkish producers have resolved to attend more trade shows in the new year.
 
TFI Tab Gida goes public
 
TFI Tab Gida, one of Turkey’s largest fast food chains, has gone public in the United States, applying for a $400 million public listing on the NASDAQ stock exchange.
 
The offering will be intermediated by a number of massive credit and financial firms, including Morgan Stanley, Credit Suisse, Goldman Sachs, Citigroup, JP Morgan, and Rabo Securities.
 
As one of Turkey’s biggest fast food operators, TFI runs 1,500 restaurants in Turkey and around the world. The company also holds the Turkish master franchise rights for several international fast food brands, such as Burger King, Sbarro, and Popeyes.

 
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