Northern Ireland nutrition group Devenish has acquired a 50% stake in Yem-Vit, a Turkish manufacturer of premix mineral solutions and speciality products, for an undisclosed sum. Yem-Vit is a family owned business with an annual turnover in the region of £15m (€17m). The company operates from a modern facility in the city of Izmir. Devenish has described the acquisition as a “strategic” move that will allow it access to new markets. As well as being a significant player in Turkey, Yem-Vit is also exporting to markets in Europe, Africa and the Middle East.
Northern Ireland nutrition group Devenish has acquired a 50% stake in Yem-Vit, a Turkish manufacturer of premix mineral solutions and speciality products, for an undisclosed sum. Yem-Vit is a family owned business with an annual turnover in the region of £15m (€17m). The company operates from a modern facility in the city of Izmir.
Devenish has described the acquisition as a “strategic” move that will allow it access to new markets. As well as being a significant player in Turkey, Yem-Vit is also exporting to markets in Europe, Africa and the Middle East.
For Devenish, this is the company’s first foray into markets in the Middle East having focussed its energy on Ireland, the UK and North America up to now.
Patrick McLaughlin, chief operating officer at Devenish, described the Yem-Vit as a “significant player” in Turkey’s animal nutrition market.
“Devenish and Yem-Vit have achieved significant national and international growth in recent years, and this partnership gives both companies an opportunity to expand further in the Turkish and surrounding markets,” added McLaughlin.
The deal is subject to regulatory approval and is expected to be concluded by the end of August.
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