NBK Capital Equity Partners Fund, managed by NBK Capital, agrees to sell 100% of Yudum Foods of Turkey to Afia International Company for a consideration of $70.7 million. The transaction is expected to close in the first quarter of 2008, subject to regulatory approvals. “We are proud of the success of this investment and we believe it illustrates NBK Capital’s commitment to creating value”, said Amjad Ahmad, Chief Executive – Investment and Merchant Banking.
Yudum Foods is the leading packaged edible oils company in Turkey. The Company is focused on the production and marketing of sunflower oil and maize oil under the widely recognized Yudum and Sirma brands, respectively. NBK Capital, in partnership with the management team, made considerable progress in the Company in a relatively short time and substantially increased revenue and profits. “We are delighted with the returns of our first investment. This transaction speaks to the team’s ability to execute its strategy of creating value through active ownership and forming close partnerships with management” said Samir Assaad, Managing Director, Private Equity.