EBRD, Turkven, IFC Back Turkish Pet Food Leader Çağatay for Growth, Job Boost
A consortium of investors, including the European Bank for Reconstruction and Development (EBRD), Turkven, and the International Finance Corporation (IFC), has invested in Çağatay, a leading Turkish pet food producer. The project aims to boost employment in the sector and expand the company's capacity.
EBRD, joined by Turkven and IFC, has taken a minority stake in Çağatay. Wojtek Boniaszczuk, Head of Transactions at EBRD's Food and Agribusiness team, expressed support for the company's growth initiatives. Aksel Şahin, a senior executive at Turkven, also looks forward to augmenting Çağatay's development.
The investment will focus on upgrading technological infrastructure and expanding capacity. Çağatay, with its strong direct-to-consumer sales model and significant export presence in 55 countries, is well-positioned for growth. The company's e-commerce presence is also growing, further boosting its competitiveness.
The investment in Çağatay by EBRD, Turkven, and IFC aims to support the company's growth and increase its competitiveness. This move is expected to broaden opportunities for Çağatay's workforce and contribute to overall employment in the sector, aligning with the investors' commitment to sustainable development.
