Cargill to Sell Hazelnut Business

12/06/06 Cargill’s Turkish hazelnut business employees about 70 operators in a processing facility that cleans, roasts, sorts and packages the hazelnuts. Cargill’s operational staff at the facility will now transfer to Durak Findik.

The decision to sell comes after a strategic review by Cargill that clearly identified the need to source directly from farmers and also shell hazelnuts. Cargill has made a strategic decision not to invest in these areas and is confident that the business will have a greater chances of growing and reaching its full potential as part of Durak Findik.

Comments Paul Naar, head of Cargill’s food ingredients business in Europe and Africa: “Durak Findik San ve As has been sourcing and shelling hazelnuts for several years and has been working with us for 10 years. Our business is going to a company that shares our focus on quality and high safety standards.”

Cargill entered the hazelnut processing business in Turkey in 1996 by building a state-of-the-art hazelnut processing facility. The company became a major processor of hazelnuts, supplying the European food and chocolate industries. Over this time Cargill has helped to raise the food safety standards in the industry, so allowing customers to buy roasted hazelnuts directly from Turkey rather than buying non-roasted hazelnuts and roasting the nuts themselves. The rise in food safety standards has also helped to increase the tonnage of processed hazelnuts exported from Turkey.

Comments Mr Hasan Basri Durak, chief executive officer of Durak Findik: “By buying Cargill’s hazelnut facility we will be adding processing operations into our hazelnut business whilst maintaining a high quality product for customers. Cargill’s employees are well trained and will be key to ensuring the business is successful going forward."