Yorsan’s new owner became the feed producer Matli Holding. Ozer Matli said that they will raise the company in four months with an investment of ₺300 million.
Last year, Turkey’s largest feed producer Matli Holding, which took a strong step into the food sector by purchasing Keskinoglu Tavukculuk, one of Turkey’s most established food brands, also became the owner of Yorsan, which has not been producing for 1.5 years. Ozer Matli, Chairman of the Board of Matli, who bought the company from the Susurluk Execution and Bankruptcy Office for ₺155 million, said, “We will invest ₺250-300 million in the brand. The total investment will reach ₺500 million. In addition to dairy products, we will establish milk powder and whey powder facilities. We are planning to produce our own geographically marked cheeses as well as varieties such as mozzarella abroad.”
IT HAS ₺3 BILLION TURNOVER TARGETS
Saying that Yorsan, a well-established company, is the insurance company for Bursa and Balikesir milk producers, Matli said, “We are planning to turn Yorsan into an integrated dairy facility with the investments we will make. It is easy to invest when you get the wind at your back. The important thing is to invest when the wind blows. We will get Yorsan up in four months and start production again. Our goal is to achieve a turnover of ₺3 billion.” Matli also said that their goal is to employ 1,200 people. Noting that their investments will not be limited to Balikesir and Bursa, Matli said, “We have feed factories in many cities. We are planning to establish dairy and livestock facilities there.”
FUND STARTED A SALES CHALLENGE
Founded in 1964 as Yorukler Gida, Yorsan was acquired by United Arab Emirates-based Abraaj Capital in 2014. After Abraaj sold his funds in Turkey to a US company in 2018, the troublesome process accelerated for Yorsan and he declared a bankruptcy due to the economic problems he was experiencing. A trustee was appointed to the company in 2019. In July 2020, Yorsan’s bankruptcy request was accepted at the Susurluk Civil Court of First Instance. A new process started with the acquisition of Yorsan, which has been in the sales process for six months, by Matli Holding.
Source: Sabah / Translated by Irem Yildiz