Palsgaard takes over Turkish ingredients distributor

Palsgaard acquires 90% share of Teknorama, its exclusive distributor in Turkey since 1997. The move will expand the Danish company’s European sales for emulsifier ingredients. Teknaroma’s previous owners will retain 10%.

The buyout will also raise Palsgaard’s headcount to 572 across 17 countries, and subsidiary sales offices in 14 countries. Under the new setup, Cengiz Altop, who is Teknaroma Managing Partner will become Managing Director of Palsgaard Teknaroma.

From left: Jakob Thøisen (Palsgaard), Cengiz Altop (Palsgaard Teknaroma), Anders Brix (Schou Foundation) and Özer Önügören (Palsgaard Teknaroma)

Commenting on the takeover, Jakob Thøisen, CEO of Palsgaard, said: “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.”
Palsgaard will build on its operations in Turkey and the surrounding markets, with support from a local application centre and both the companies’ combined technical expertise. It plans to grow Teknaroma’s existing application facilities to cover chocolate as well as other categories, including bakery and dairy.

Teknaroma will continue its current agency and distributor activities for the foreseeable future.

Mr Altop said: “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, allowing us to achieve new levels of success. Teknaroma will also become the application centre for the area, which will enable us to strengthen our partnerships with important customers.”

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.