News

2013

ADM Capital, Gencoglu Holding and Penguen have signed a sale and purchase agreement to sell their 100% stake in Penkon for an Enterprise Value of EUR 36.5 million.

Jul 24, 2013
  • ADM Capital, Gencoglu Holding and Penguen have signed a sale and purchase agreement to sell their 100% stake in Penkon for an Enterprise Value of EUR 36.5 million. 
  • Penkon is a leading fruit concentrate producer in Turkey. The Company has a facility in Turkey with a processing capacity of 100,000 tons per year. The transaction will involve, ADM Capital, a private equity fund investing in Asia and Central and Eastern Europe; Penguen, the leading frozen and canned food producer in Turkey and Gencoglu Holding, the major shareholder of Penguen transferring their shares in Penkon to Anadolu Etap. 
  • ADM Capital, with USD 1.6 billion in assets under management and USD 450 million invested in Turkey, acquired 50% of Penkon's shares in 2011.
  • Anadolu Etap, which is engaged in fruit plantation and production of fruit purees and concentrates, is one of the leading suppliers of fruit juice industry in Turkey and worldwide. The company is jointly owned by Anadolu Group, one of the largest conglomerates in Turkey; Ozgorkey Holding, active in the beverage industry as well as printing and packaging and  Cutrale Group, a leading global fruit juice producer.  
  • Pragma acted as the exclusive financial advisor of the sellers in this transaction.
  • Pragma successfully completed 47 mergers & acquisitions and project finance transactions worth more than USD 3.5 billion since 2005.

 

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