GELITA acquires majority stake in Turkish gelatine manufacturer
GELITA AG today acquired 65% of the shares in the Turkish gelatine producer SelJel. With this Joint Venture, GELITA AG is further strengthening its position as the industry's global leader. The remaining 35% of the shares remain with the founding family Tezman.
With approximately 6,500 metric tons of edible, pharmaceutical and technical gelatine, SelJel is the first Turkish producer and supplies not only the national market but also international customers.
"We are delighted that we have come to an agreement. SelJel complements GELITA perfectly. All their products have halal status, which helps us to meet the growing demand for these products," says Dr. Franz Josef Konert, CEO of GELITA AG. "This will further boost GELITA's strong global network, now with 23 locations worldwide, and SelJel will profit from GELITA's global presence".
The Joint Venture is part of GELITA's growth strategy to meet the increasing demand for gelatine, and in particular for halal bovine gelatine. This is an important requirement not only in Islamic states but also in large parts of Asia to extend market share in this growth region.
The SelJel company, which currently employs around 220 people, was founded in 1961. In the early years, it focused on the production of technical gelatine. Since 2010, the product range has been expanded to include edible gelatine and later also pharmaceutical gelatine, all with halal status.
In the coming weeks, we will work on the swift integration into the Group to leverage the resulting synergies to the fullest. The founding family Tezman will continue to manage the company.