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TURKEY: Coca Cola Icecek awaits approval for Dogadan deal

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Coca-Cola Icecek, an affiliate of the Coca-Cola Co., is awaiting competition board approval over the acquisition of Turkish tea company Dogadan Gida Urunleri Sanayii ve Pazarlama A.S.

The company said today (20 September) that it maintains its position since May and will announce the acquisition of Dogadan once the approval of the Competition Board is obtained.

Last month, CCI posted a strong set of figures for its first half, with operating profit leaping by over a third.

The company reported that operating profit in the first six months of this year was up by 38% on the corresponding period a year earlier, totalling YTL112.5m (US$85.2m). The increase came on the back of a 16% climb in net sales to YTL891.6m. In volume terms, sales rose by 12.2% to 218m cases.

Net profit for the period increased by 26.5% to YTL159.1m.

CCI produces and distributes the full beverage portfolio of The Coca-Cola Co. in Turkey.


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