Ajinomoto acquires Örgen for $68m

Japan-based seasonings and processed foods manufacturer Ajinomoto has agreed to acquire all the shares of Turkish food company Örgen Gida Sanayi ve Ticaret (Örgen), as well as the trademark for its brand Bizim Mutfak, for approximtely JPY7.4bn ($68m).

Ajinomoto signed a share purchase agreement with Yildiz Holding, which holds a 51% stake in Örgen, and the remaining 49% stake is held by the Örgen family, who are the company’s founders.

The acquisition will strengthen Ajinomoto's presence in Turkey and further accelerate its business expansion plans in the country.

As part of the share purchase agreement, Ajinomoto will acquire four of Örgen's Turkey-based businesses, namely bouillon, powdered soups, menu-specific seasonings and powdered desserts.

The acquisition of Bizim Mutfak would also bolster Ajinomoto’s business portfolio in Turkey.

Ajinomoto also intend to acquire the remaining 49% stake of Örgen next March, without making changes to the latter's existing management. Upon completion of the acquisition, Örgen will become a consolidated subsidiary of Ajinomoto.

Ajinomoto sees Turkey as the starting point for business expansion in the Middle East. The Ajinomoto Group will continue to provide products adapted to local food cultures and customs.

In 2013, Ajinomoto acquired a 50% stake in Kükre Gida Ve Ihtiyaç Maddeleri Nakliyat Ve Özel Egitim Hizmetleri Ticaret Ve Sanayi Anonim Sirketi (Kükre) in Turkey, a food company that owns the traditional seasoning brand Kemal Kükrer, and it has since strengthened its business foundation in Turkey.

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Image: Örgen's products include bouillon, powdered soups, menu-specific seasonings and powdered desserts. Photo: courtesy of Ajinomoto.