NBK Capital has announced that it acquired a 20 per cent equity stake in the aquaculture company Kilic Deniz. NBK Capital made the investment via its flagship regional private equity fund - NBK Capital Equity Partners Fund - which focuses on offering growth capital to enterprises in the Middle East and North Africa as well as Turkey, according to NBK Capital CEO Salah Al-Fulaij. The fund is worth US$ 250 million.
Kilic is Turkey’s top aquaculture firm. In 2010, it enjoyed revenues of more than US$ 140 million; the company works with both sea and fresh water fish species and sells its products both domestically and abroad. Further, Kilic is the country’s only vertically integrated company that can successfully carry out all phases of the aquaculture process – from incubation through distribution, reports Arab Times.
“Our equity investment in Kilic illustrates our continued confidence in the company’s business model and growth potential,” stated Amjad Ahmad, Senior Managing Director at NBK Capital. “We will continue to execute on Kilic’s proven strategy and provide the necessary support to solidify its position as a regional leader.” Kilic Chairman and CEO Orhan Kilic said the investment capital will go toward increasing capacity and working capital funding. Read more...
This blog is written by Martin Little The Aquaculturists, published and supported by the International Aquafeed Magazine from Perendale Publishers.