On 1st June 2016, our client Bridgepoint acquired Peyman, the Turkish packaged dried fruit, nuts and seeds producer, from its founders and Esas Holding for an undisclosed sum.
Established in 1995 and headquartered in Istanbul, Peyman is a leading 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.
Bridgepoint, a major international private equity group with significant experience in backing consumer businesses, is attracted by the opportunity to support Peyman’s ambitious growth plans both in its traditional convenience store marketplace and by developing new brands and innovative products, transforming the business into a larger and broader snack brand.