Ak Gida, one of the largest food producers in Turkey, has been sold to Laval, Mayenne-based French food producer Lactalis, a multi-national dairy products corporation, according to Ak Gida’s parent company Ulker.
French dairy products giant Lactalis acquired a controlling stake in Ak Gida for an undisclosed amount, according to a spokesman for Ulker.
Ak Gida is ranked 33th largest industrial corporation among Turkey’s 500 largest according to the Istanbul Chamber of Commerce with revenue of 1.87 billionTurkish liras ($700 million) last year.
Lactalis is a multi-national dairy products corporation. It is the 15th largest food company worldwide and one of Europe’s largest milk producers.