Danish food ingredients firm Chr. Hansen has completed the acquisition of remaining 50% stake in its Turkish subsidiary, Peyma Chr-Hansen, for an undisclosed amount.
According to Chr. Hansen, Turkey is strategically an important market seeing steady growth in cultures, enzymes and natural colors, and the company intends to strengthen and expand its activities in the region.
Chr. Hansen Europe, Middle East and Africa vice president Jacob Vishof Paulsen said: With this acquisition we can fully integrate operations into the rest of the Chr. Hansen organization, sustaining the whole Group's success in the future."
Chr. Hansen Turkey general manager and shareholder Toni Ciprut has agreed to support the management team over the next two years.