Yildiz Forms Joint Venture With Danish Gum Maker

Turkey-based food and drink giant Yildiz Holding has entered into a confectionery joint venture with Denmark-based chewing gum manufacturer Gumlink. The pair will form Continental Confectionery Company (CCC) and target markets in Europe (specifically Russia), the Middle East and North Africa. It is believed that US$100mn will be pumped into CCC initially and the firm has targeted a turnover of US$400mn over five years. In our opinion, CCC's ability to make good on its five-year turnover target could depend on how it fares in the competitive Russian market.

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