The owner of McVitie’s biscuits and Godiva chocolate has set up the company based in London that will enhance the exposure in the global investors and markets, assisting the company to compete in incredible competitive industry.
For now company known as pladis, is completely retained subsidiary of Yildiz as Turkey’s Holding and a main food company having about 320 brands. Still in 3 – 4 years, plans of pladis as initial public offering of London which could also see it become the company of FTSE 100.
Turkey’s appeal as the destination for the foreign investment waned being the security concerns as well as fears about the growing authoritarianism of President Tayyip Erdogan that have knocked the appetite of investor and currency of lira.
“Pladis is known as the worldwide company and even London is the global city,” said Cem Karakas, the chief executive, said Reuters, adding the goal of pladis as the outstanding stock of snack food on Stock Exchange Market of London. “I believe that there’s some shortage in market.”
However, Karakas deteriorated to mention that how great is power of IPO, but said that Yildiz will wish to stay the mainstream shareholder, like Ulker.
Pladis also will try to allure the broad base of investor with goals of industry being topping growth of annual sales for about 17 percent.
Their plans also include roll-out of the Godiva chocolate with fresh product of cake on grocery shelves of UK, extension of the McVitie’s in the international brand, sales distribution that is beefed-up in US, and even growth in Africa and Middle East, where progressively wealthy consumers now are eating high quantity of snacks.
“Grazing” and “Snacking” are buzz words for the tepid packaged in the entire food industry grappling through instability of economic and consumer shift with fresh foods. The appeals of snack foods for busy people that forego meals with sit-down in favour to eat on go.
Combining the business of Godiva chocolate of Yildiz with Ulker and business of United Biscuits into a single company is even aimed at effective distribution with the development of the products like Nibbles of McVitie’s Digestives that went on the sale in Britain during the month of February.