The owner of Godiva chocolates is set to buy DeMet’s Candy Co., maker of Turtles chocolates, for $221 million.

The deal gives the buyer, Istanbul-based food and beverage company Yildiz Holding AS, a stronger foothold in the U.S. In addition to Godiva, which it bought from the Campbell Soup Co. (NYSE: CPB) in 2007 for $850 million, Yildiz also owns Turkish consumer goods companies Ulker Group.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.