BELFAST agri-technology firm Devenish Nutrition has announced its first acquisition outside the UK and North America, with an investment in the Turkish market.
In a strategic move Devenish has acquired a 50 per cent stake in premix producer Yem-Vit A.?. This will allow the company to grow in the Turkish market and provide significantly improved access to surrounding regions.
Headqaurtered in Belfast, Devenish have facilities in the UK, Republic of Ireland, North America and Africa and is a market leader with over 65 years’ experience in developing and supplying innovative and research driven nutritional solutions for animal and human health particularly in the pig, poultry, ruminant, aquaculture, equine and companion sectors.
The company employs over 400 staff, exporting to over 30 countries worldwide, and has a turnover in excess of £195 million. The A-One and Hi Peak Feeds Ltd brands are also part of the group.
Group chief operating officer at Devenish Patrick McLaughlin said the new deal would provide both companies with opportunities for expansion.
“Devenish and Yem-Vit have achieved significant national and international growth in recent years, and this partnership gives both companies an opportunity to expand further in the Turkish and surrounding markets. Yem-Vit are a significant player in Turkey with a fantastic reputation for manufacturing and quality. This, combined with our innovative nutritional solutions, will ensure we deliver a world class offering for our customers."
Ian Atterbury, Director of International Business at Devenish said the collaboration of the businesses would be to the benefit of customers in Turkey and beyond.
“Yem-Vit’s reputation for manufacturing excellence, quality control and support for their customer base is very much aligned to Devenish’s core values."
Established in 1987, Yem-Vit is an independent, quality focused, family owned company, specialising in the production and distribution of a range of solutions for the poultry, ruminant and aquaculture sectors. One of the major brands in the Turkish premix industry it exports throughout Europe, Africa and the Middle East.
Yem-Vit stakeholder and general manager Onat Onater added:
Both companies have a reputation of delivering innovative products and technical support to their customers. We believe this partnership will provide a platform for both companies to grow further in the Turkish and surrounding markets.
