Elit

Kerten has acquired a stake in Turkish chocolate-maker Elit Çikolata.

“With this international partner, Elit will strengthen its institutional and financial infrastructure, cementing its place in the sector with investments and new products,” said Burak Halimoğlu, Elit’s general manager.

Elit, which mainly sells its products to chocolate and candy companies, was established in 1924. The company currently offers 400 different products and exports them to 33 countries, with one-fifth of its revenue coming from foreign sales.

“The development of the chocolate and candy sector in the past few years and its growth potential constitute a solid base for investments,” Halimoğlu said. “We wish to meet more consumers with the Elit brand. Thus, we want to be as well-known in the retail sector as we are in the industrial market. The capital injection to come with Kerten’s partnership will support Elit’s retail growth.”

Describing Kerten’s decision to form a strategic partnership with Elit Chocolate, Gabriella Kindert, Non-Executive Director at Kerten Private Equity, explained:

“Elit is a very well-respected company with a unique heritage, excellent product quality and a diverse product portfolio. This combined with their strong brand recognition, reputation, and expertise in the Turkish chocolate industry, creates significant opportunities in this particular sector. We fully believe that the partnership between Kerten and Elit will create the necessary conditions for generating continued strong growth and profitability for the company. We have the utmost confidence in the vision, professionalism and expertise of our partners. Throughout this process, in addition to the capital contribution, Kerten will provide strategic support and a global network that will facilitate further market expansion, both domestically and internationally.”