The UAE-based private equity firm Abraaj Group has been increasing its investments in dairy. Global Ag Investments recently discussed the firm’s investment in East Africa’s largest dairy company, Brookside Dairy and it has also acquired a minority stake in Fan Milk, a distributor of frozen dairy products and juices in West Africa. Abraaj Group’s latest acquisition is a majority stake in Turkey’s Yörsan Group. The Yörsan Group was founded 50 years ago and produces yogurt, cheese, milk and the Turkish drink Ayran. Turkey’s dairy sector has a current value of approximately $2.8 billion and experts believe that there is potential for significant growth. Per capita dairy consumption volumes are low compared to other developing markets and the country is experiencing increasing urbanization and organized retail while exceeding economic growth of 5% per year on average.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service