Palsgaard snaps up Turkish distributor Teknaroma
06 Feb 2020 --- Danish emulsifiers and stabilizers producer Palsgaard is to takeover Turkish food ingredients distributor Teknaroma. The ingredients supplier acquired 90 percent of the company’s shares yesterday, with Teknaroma’s previous owners retaining 10 percent. Palsgaard will now look to build on its operations in Turkey and the surrounding markets, offering products supported by a local application center. As a result of the takeover, Teknaroma Managing Partner Cengiz Altop becomes Managing Director of Palsgaard Teknaroma.
“We are delighted to have concluded the purchase of Teknaroma and to be able to secure the services of all the highly experienced staff in its Istanbul office. Teknaroma has successfully represented Palsgaard in the Turkish market for more than 20 years and adding the business to the global Palsgaard family will offer significant advantages to all parties,” says Jakob Thøisen, CEO of Palsgaard.
Palsgaardnow has plans to expand Teknaroma’s existing application facilities in Turkey. The facilities will cover chocolate as well as other categories, including bakery and dairy. 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. Teknaroma will continue its current agency and distributor activities for the foreseeable future.
“The takeover agreement is fantastic news for Teknaroma. We will become part of the global Palsgaard operation and gain access to its vast resources. This will make it possible for us to expand our activities in the Turkish market and beyond. Teknaroma will also become the application center for the area, which will enable us to strengthen our partnerships with important customers,” says Cengiz Altop, Palsgaard Teknaroma Managing Director.
The purchase of Teknaroma means Palsgaard has seen its global headcount rise to 572 across 17 countries. It also now has subsidiary sales offices in 14 countries.
Carbon-neutral ingredients
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.
In the midst of a mammoth global climate debate, the supplier has cemented its position as an “early mover” on the carbon production front. All of Palsgaard’s emulsifier and stabilizer solutions are now produced in CO2-neutral factories. Currently six of the company’s global production sites are all CO2-neutral, mainly through a shift in energy sources, and the company plans to ramp up production to double its current capacity. Previously, FoodIngredientsFirst spoke to CEO Jakob Thøisen on the company’s achievement as well as his forecasts for the emulsifier market as a whole.
Notably, Palsgaard forecasts an uptick in demand for sustainably produced food products, particularly in the MEASA region (the Middle East, Africa and South Asia). As markets grow in the region, so too will concerns over climate change, according to the company, thus propelling the demand for sustainable solutions.
By Benjamin Ferrer
