FDBusiness.com

Peyman, the Turkish packaged dried fruit, nuts and seeds producer, has been acquired by private equity firm Bridgepoint for an undisclosed sum.

Established in 1995 and headquartered in Istanbul, Peyman is a leading FMCG player in the Turkish snacks market focusing on the highest growth sub-segment – dried fruits, nuts and seeds (‘DFNS’) – an essential part of Turkish diet and culture. Turkey is amongst the largest producers and consumers of DFNS globally, with the segment estimated to be worth over €2 billion a year in Turkey alone.

Peyman has a well-established brand presence in independent convenience stores, Turkey’s traditional retail channel, and a growing presence in supermarket chains. It has built brand awareness through innovative product initiatives, such as introducing zip-lock packaging, thereby contributing to a consumer shift from unpackaged, bulk product to branded package consumption in the DFNS segment. Peyman also exports to more than 30 countries, primarily in the Middle East, Balkans and central Asia.

Turkey offers one of the most attractive FMCG markets globally due to the size of its economy, its growing population, positive drivers such as increasing disposable incomes and a growing middle class, and the growth of healthy snacking.

Martin Dunn, the partner responsible for Bridgepoint’s investment activities in Turkey, says: “Peyman is a rapidly growing market leader capable of transforming into a larger and broader snack brand. With fresh capital and additional consumer expertise from Bridgepoint, Peyman will be able to accelerate growth, both in its traditional convenience store marketplace and by developing new brands and innovative products.”