Palsgaard acquires Turkish distributor

Palsgaard has announced the takeover of Turkish food ingredients distributor Teknaroma.

The Danish emulsifier ingredients supplier acquired 90% of the company’s shares on 5 February 2020, with Teknaroma’s previous owners retaining 10%.

The deal reinforces a long-standing relationship between the two parties, with Teknaroma having had exclusive distribution rights to Palsgaard products on the Turkish market since 1997.

Palsgaard will now look to build on its operations in Turkey and the surrounding markets, focusing on offering high-quality products supported by a local application centre and the companies’ combined technical expertise.

As a result of the takeover, Teknaroma managing partner Cengiz Altop becomes managing director of Palsgaard Teknaroma.

Palsgaard plans to expand Teknaroma’s existing application facilities in Turkey. The facilities will cover chocolate as well as other categories, including bakery and dairy.

Palsgaard, which celebrated its centenary year in 2019, recently became the first emulsifier ingredients company to achieve carbon-neutral production and was named Sustainability Champion at last year’s Food Ingredients Europe Innovation Awards.