Private equity firm the Abraaj Group is buying a majority stake in Yörsan Group for an undisclosed amount.
Yörsan, headquartered in Susurluk, Turkey, manufactures and distributes dairy products, including yogurt, cheese milk and ayran, a traditional Turkish drink.
Abraaj, which is the largest investor in the Middle East, made the deal in partnership with the European Bank for Reconstruction and Development and the family that founded the company. This is not the first dairy investment for Abraaj, which recently invested in Fan Milk International, which manufactures and distributes frozen dairy products and juices in Africa. The firm also has a stake in Brookside Dairy, which is a dairy in east Africa.
Yörsan is Abraaj’s eigth investment in Turkey since 2007, following an August investment in Republika Academic Apartments. For more, see “10 Emerging Markets to Watch: Turkey.”