Palsgaard has announced the acquisition of Turkish food ingredients distributor Teknaroma. The Danish emulsifier ingredients supplier acquired 90% of Teknaroma’s shares on Feb. 5, 2020, with its previous owners retaining 10%. The deal reinforces a long-standing relationship between the two parties, with Teknaroma having had exclusive distribution rights to Palsgaard products on the Turkish market since 1997.
Palsgaard will now look to build on its operations in Turkey and the surrounding markets, focusing on offering high-quality products supported by a local application center and the companies’ combined technical expertise.
As a result of the takeover, Cengiz Altop, Teknaroma’s managing partner, becomes managing director of Palsgaard Teknaroma.
“We are delighted to have concluded the purchase of Teknaroma and to be able to secure the services of all the highly experienced staff in its Istanbul office,” said Jakob Thøisen, CEO of Palsgaard. “Teknaroma has successfully represented Palsgaard in the Turkish market for more than 20 years and adding the business to the global Palsgaard family will offer significant advantages to all parties.”
Palsgaard has plans to expand Teknaroma’s existing application facilities in Turkey. The facilities will cover chocolate as well as other categories, including bakery and dairy.
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