TOKYO, March 7, 2018 – Ajinomoto Co., Inc. (“Ajinomoto Co.”) has decided to amalgamate Ajinomoto Istanbul Food Sales Ltd., KÜKRE GIDA VE İHTİYAÇ MADDELERİ NAKLİYAT VE ÖZEL EĞİTİM HİZMETLERİ TİCARET VE SANAYİ ANONİM ŞİRKETİ (“Kükre A.Ş.”) and Örgen Gıda Sanayi ve Ticaret A.Ş. (“Örgen A.Ş.”), all of which are wholly owned subsidiaries in Turkey. Ajinomoto Co. will make a new start as a comprehensive food manufacturer in Turkey to accelerate the expansion of its international consumer foods business in Turkey and the Middle East. The effective date of the amalgamation is scheduled for July 2018, and the new company will be named AJINOMOTO ISTANBUL FOOD INDUSTRY AND TRADE LIMITED COMPANY.
Ajinomoto Co. started business in Turkey with the establishment of Ajinomoto Istanbul Foods Sales Ltd. in 2011. After acquiring 50% of the equity of Kükre A.Ş., which manufactures and sells liquid seasonings (vinegars, fruit sauces), pickles and other products, in November 2013, Ajinomoto Co. made it a wholly owned subsidiary in August 2017. Ajinomoto Co. also made Örgen A.Ş., which manufactures and sells powdered seasonings (bouillon, menu-specific seasonings) and processed foods (powdered soups, powdered desserts), a wholly owned subsidiary in April 2017. As a result, Ajinomoto Co. acquired the businesses of the KEMAL KÜKRER brand of liquid seasonings owned by Kükre A.Ş. and the Bizim Mutfak brand of bouillon, powered soups and other products owned by Örgen A.Ş., and it has been conducting operations at the three companies, including Ajinomoto Istanbul Foods Sales Ltd.
The amalgamation of the three companies will consolidate their corporate functions. In addition, the new company will utilize the marketing and sales functions of Kükre A.Ş. and Örgen A.Ş. to establish a solid business platform for enhancing manufacturing and sales of existing liquid seasonings, powdered seasonings and processed foods, as well as developing new products using the Ajinomoto Group’s specialized ingredients and technologies. Ajinomoto Co. will also strengthen exports to the Middle East in addition to sales in Turkey. In doing so, it will aim for fiscal 2020 sales of more than JPY 10 billion (about twice fiscal 2017 sales).
Ajinomoto Co. also intends to promote the “Ajinomoto Group Brand” in Turkey and the Middle East by introducing the Ajinomoto Group Global Brand Logo (“AGB”) it announced in October 2017 on the product packaging of KEMAL KÜKRER, Bizim Mutfak and other major brands.
Ajinomoto Co. has been ensuring food products business growth with a stronger regional portfolio as a key strategy of FY2017-2019 Medium-Term Management Plan. Under the plan, Ajinomoto Co. is expanding and strengthening its business in Turkey and the Middle East, which are positioned as “Rising Stars.” Ajinomoto Co. will continue to contribute to the health and well-being of local consumers through the development of product categories adapted to local eating habits and food culture.
New Company: Overview of AJINOMOTO ISTANBUL FOOD INDUSTRY AND TRADE LIMITED COMPANY
Overview of Ajinomoto Istanbul Food Sales Ltd.
Overview of Kükre A.Ş.
Overview of Örgen A.Ş.
* TRY 1 = JPY 28.77 (exchange rate as of February 28, 2018)
Relationship among Ajinomoto Istanbul Food Sales Ltd., Kükre A.Ş. and Örgen A.Ş.
About Ajinomoto Co.
Ajinomoto Co. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals. For many decades Ajinomoto Co. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health and global sustainability. Founded in 1909 and now operating in 30 countries and regions, Ajinomoto Co. had net sales of JPY 1,091.1 billion (USD 10.07 billion) in fiscal 2016. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.
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