The transaction does not include Unilever’s facility in Çorlu at which Unipro brands are currently produced, but the factory will continue to manufacture for AAK under a third-party agreement.
Izzet Karaca, Unilever Turkey executive vice president, said: “In order for Unilever to continue to deliver sustainable growth, we will continually review and sharpen our portfolio. I am confident the Unipro business will continue to do well under AAK’s management.”
The company’s decision to divest its Turkish oils business is in line with its global strategy to exit non-core business.
In 2012, the Unipro business had a turnover of approximately €75 million. The transaction is expected to close in the third quarter of 2013.