Bridgepoint acquires Turkish snacks producer Peyman

Private equity firm Bridgepoint has acquired Peyman, a Turkish packaged dried fruit, nuts and seeds producer, from its founders and Esas Holding. Terms of the deal have not been disclosed.

Founded in 1995 and based in Istanbul, Peyman is a leading company in the Turkish snacks market, with a focus on the dried fruits, nuts and seeds (DFNS) category.

Bridgepoint partner Martin Dunn said: "Peyman is a rapidly growing market leader capable of transforming into a larger and broader snack brand. With fresh capital and additional consumer expertise from Bridgepoint, Peyman will be able to accelerate growth, both in its traditional convenience store marketplace and by developing new brands and innovative products."

Turkey is one of the largest producers of DFNS globally. This segment is valued at over €2bn a year in the country.

Peyman’s products are sold in independent convenience stores, traditional retail channel, and supermarkets.

The firm exports its products to more than 30 countries, primarily in the Middle East, Balkans and central Asia.

Bridgepoint made the investment in Turkey, as it plans to leverage positive factors such as increasing disposable incomes, growing middle class, and the growth of healthy snacking.