EBRD, Turkven, and IFC Back Çağatay's Growth with Minority Stake
The European Bank for Reconstruction and Development (EBRD) has joined forces with Turkven and the International Finance Corporation (IFC) to invest in Çağatay, a leading Turkish pet food producer. The minority stake acquisition aims to boost Çağatay's expansion and competitiveness, while also creating new job opportunities in the sector.
Çağatay, with a presence in 55 countries, has been making strides in the e-commerce sphere and boasts significant export potential. The company's direct-to-consumer sales model and robust manufacturing capabilities have caught the eye of investors.
The EBRD, which has invested over €22 billion in Turkey through 499 projects since 2009, is proud to support Çağatay's growth. Wojtek Boniaszczuk, Head of Transactions at EBRD, expressed delight in partnering with Turkven and IFC for this venture. Aksel Şahin, a senior executive at Turkven, also commended Çağatay's unique business model and production prowess.
The new shareholders plan to bolster Çağatay's production capacity and upgrade its technological infrastructure. This investment seeks to broaden opportunities for Çağatay's workforce and contribute to overall employment in the pet food sector. With the EBRD's substantial track record in Turkey, this collaboration signals confidence in Çağatay's future expansion and success.
