Turkey’s Eti Gıda moves For Canada Snacks Firm Trubar

Trubar connected waste successful Monterey, California, 7 October 2024. Credit: ZikG/Shutterstock.com

Turkey-based nutrient shaper Eti Gıda has struck a woody to get Canadian snacks group Trubar.

Eti Gida, which markets biscuits, cakes and confectionery, is to salary C$201m (US$143.1m) for nan snack-bar business.

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Under nan position of nan deal, Eti Gıda will salary C$1.64 per communal stock successful cash, which Trubar said was a 64% premium to nan company’s stock value past Friday, nan past trading time earlier nan woody was announced.

Trubar said its committee had “unanimously wished nan transaction “is successful nan champion liking of nan company” and will recommends shareholders ballot for nan connection astatine a gathering successful January.

Kingsley Ward, Trubar’s executive chairman, said: “This projected acquisition represents a important milestone for our institution and delivers connected our committedness to creating beardown worth for shareholders. Eti Gıda is an perfect acquirer for Trubar astatine this shape successful nan brand’s improvement fixed ETİ Gıda’s successful way grounds of scaling CPG brands complete nan past six decades.”

More to follow…