Skip to main content

European bank invests in Turkey’s leading packaging company


The European Bank for Reconstruction and Development (EBRD), Actera – the leading private equity investor in Turkey – and Esas Holding – a venture capital firm established by the Sabancı family –are acquiring a majority stake in Korozo, the leading Turkish producer of flexible packaging, the EBRD said in a statement on April 25. 

The new shareholders are moving to unlock the company’s growth potential and increase its competitiveness and integration in international markets, according to the statement.  

Founded in Istanbul in 1973 by brothers Liya and Refael Duvenyaz, Korozo has grown to become a major manufacturer of flexible packaging in Europe and the largest in Turkey. 

The company has nine plants across Turkey with a total capacity of 98 tons per year and is currently building a state-of-the-art facility in Çorlu, Tekirdağ province, in the northern Marmara region, to expand production and boost exports, according to the statement. 

More than half of Korozo’s production is exported to 80 countries worldwide. 

Jean Marc Peterschmitt, EBRD Managing Director for Industry, Commerce and Agribusiness, commented:

“Korozo is a great example of an ambitious Turkish firm which has started as a family business and grown into a truly international player. We are proud to become shareholders and support the company in its next phase of development as it seeks to become one of Europe’s leading producers of flexible packaging. It is this spirit of entrepreneurship, fuelled by skills and ambition, which is the driving force of the Turkish economy.”
 
Jeki Mizrahi, CEO of Korozo, said: “This partnership is a big step forward that will accelerate Korozo’s growth and investments to achieve our vision of becoming a leading player in the European packaging industry. We will continue to contribute to the Turkish economy, drive market growth and add value for all our business partners.”

Comments

Popular posts from this blog

International Schools in Turkey

You will find below a list of the most popular international and bilingual schools for expats in Turkey with fee information. It includes nursery schools, primary and secondary (high) schools and you will find the right school to prepare for International Baccalaureate, and other diploma in Turkey. Some schools will follow the American or British curriculums with English speaking programs while others are regulated under the French, Italian or German education system.

Education in Turkey
Education in Turkey consists of a network of primary and secondary schools financed and operated by the state. Schooling is free and compulsory for 12 years, commonly referred to as "4+4+4". This means 4 years primary education (lst level), 4 years primary education (2nd level) and 4 years secondary education. Students are generally taught in Turkish. Children begin their primary education in the first month of September following their sixth birthday. A primary education diploma is awarded at …

Turkey’s Ibn Haldun, Malaysia’s International Al Bukhary universities partner up

rkey's Ibn Haldun University and Malaysia's Al Bukhary International University have partnered up with a collaboration protocol as the two states look to further their cooperation as Muslim-majority countries. As part of the partnership, a collaborative education program will begin with the start of the new academic semester in September. In the first day of partnership, an event was organized in Alor Setar, Malaysia, where the Al Bukhary University is located. Various educational units of the university were introduced to the audience during this event. A ceremony in honor of the students who passed the English training class was also held. The International Al Bukhary University's campus is in the capital of Malaysia's Kedah state, Alor Setar. The foundation-run university is known for its strong infrastructure and support for successful international students who mainly come from Africa, Asia and other countries in the region. Turkey's Ibn Haldun University is based i…

27 Delicious Turkish Foods Everyone Must Try part one

27 Delicious Turkish Foods Everyone Must Try part one part one 1-9 1.Menemen

This traditional Turkish breakfast item is scrambled eggs cooked in sautéed vegetables and served hot with bread. Dip it, spread it, or spoon it up.
2.Köfte


A Turkish staple, köfte is balls or patties of ground beef or lamb, and can be served stewed, in sandwiches, over salads, or plain with yogurt.


3.Mantı
Mantı might remind you of ravioli at first sight, but the traditional Turkish dish is completely unique in taste and texture. Small beef or lamb dumplings are boiled or fried and served with yogurt or butter, and often accompanied with a range of spices.
4.Kuzu Tandır

The meat for this popular lamb dish is traditionally hung and slow roasted whole, and it often served with rice or potatoes, and yogurt.