Devenish Nutrition Ltd acquires 50% share in Turkish premix producer Yem-Vit A.Åž
Devenish Nutrition Ltd has announced that it has acquired a 50% share in Turkish premix producer Yem-Vit A.Åž.
A statement from the company said this is a strategic move for Devenish and its first acquisition outside of the UK, Ireland and North America. This will allow the company to grow in the Turkish market and provide significantly improved access to surrounding regions.
The agreement was signed in advance of VIV Turkey where the companies will be jointly exhibiting in Hall 9 Stand E-02.
Devenish have facilities in the UK, Republic of Ireland, North America and Africa and is a market leader with over 65 years’ experience in developing and supplying innovative and research driven nutritional solutions for animal and human health particularly in the pig, poultry, ruminant, aquaculture, equine and companion sectors.
Established in 1987, Yem-Vit is an independent, quality focused, family owned company, specialising in the production and distribution of a range of solutions for the poultry, ruminant and aquaculture sectors. Operating from new production facilities in Izmir, Yem-Vit is one of the major brands in the Turkish premix industry, and exports throughout Europe, Africa and the Middle East.
Patrick McLaughlin, Group Chief Operating Officer at Devenish commented: “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. Yem-Vit are a significant player in Turkey with a fantastic reputation for manufacturing and quality. This, combined with our innovative nutritional solutions, will ensure we deliver a world class offering for our customers.”
Onat Onater, Shareholder and General Manager at Yem-Vit added: “Both companies have a reputation of delivering innovative products and technical support to their customers. We believe this partnership will provide a platform for both companies to grow further in the Turkish and surrounding markets.”
Ian Atterbury, Director of International Business at Devenish commented: “Yem-Vit’s reputation for manufacturing excellence, quality control and support for their customer base is very much aligned to Devenish’s core values. The collaboration of the businesses will improve the offering of both companies to the benefit of customers in Turkey and beyond.”
The agreement requires approval from the Competition Authority, with the deal expected to be finalised by the end of August.