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Turkish pulses company Gökbayrak up for sale

13 September 20172 min reading

Gökbayrak, one of the well-established companies in the Turkish pulses industry, has been put up for sale after the death of its founder, Şemsettin Gökbayrak.

gokbayrakGökbayrak, one of the leading pulses brands in Turkey, has been put up for sale by the heirs of Şemsettin Gökbayrak, the founder of the company who passed away in March. According to a report in Dünya newspaper, Şemsettin Gökbayrak founded the Gökbayrak brand in 1981 and brought it to an important position with high-quality products in pulses, and was also the founder of the Association of Processing and Packaging Industrialists of Agricultural Products, Grains and Pulses (PAKDER). Gökbayrak long served as the chairman of the association, until he passed away in March.

The company has a production capacity of more than 9,500 tons per year, and its production operations are based in a 1200 sqm building in Esenyurt, İstanbul. However, after the death of Şemsettin Gökbayrak, production capacity fell as low as 10%.

Nilüfer Tanrıöver, daughter of Gökbayrak and one of the shareholders of the company, spoke in an interview with Dünya newspaper: “My father never took any loans. We have a debt-free financial structure. However, we cannot deal with this business, and it is very important for us to maintain the quality of the brand. We launched a process to find a buyer who will maintain the quality. Because that’s what our father would have wanted.” Tanrıöver said the products of the company are sold at 350 locations, including major supermarkets such as Macrocenter and Metro.

Sevil Becan from Atuva Management Consultancy, which manages the sales process, said there was interest in the industry, and they started talks for the sale.

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