Lebanon Businessnews News

Transmed acquires majority
of Turkish food distributor
Ernst & Young, Bank Audi, and Bankmed were intermediaries
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Transmed, a distributor of Fast Moving Consumer Goods (FMCG), has acquired an 80 percent stake in Demak, a Turkish importer and distributor of food products.

Demak’s brand name will change to Transmed Turkey.

“This deal is in line with Transmed’s strategy of broadening its presence across the world,” said Elias Sahyoun, Finance Director at Transmed.

Ernst & Young, Bank Audi, and Bankmed were the financial consultancies of the deal.

Founded in 1946, Transmed focuses on the distribution of a range of food, and household and personal care products, including Procter & Gamble, Clorox, Mars, Sysco, Fontera, Danone, and Kellogg’s, among others. The company has a presence in ten countries, from which it exports to another ten countries.

Demak Food Ltd. was established in 2001 in Turkey as the exclusive importer and distributor for many worldwide food producers, such as Familia, Alpro, Vegeta, Loacker, Walkers, Arla, St. Dalfour, and Calvé.

Nikola Marincic, founder of Demak, will continue to lead Transmed Turkey as General Manager.
Reported by Rania Ghanem
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Date Posted: Sep 07, 2018