French dairy group Lactalis has confirmed plans to buy a controlling stake in Turkish dairy Ak Gida from Yildiz Holding.

A spokesperson for the French cheese maker, which also controls Italy's Parmalat, told just-food Lactalis will take an 80% stake in Ak Gida.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Further details were not available at time of press. However, local reports suggest the deal is valued at around US$800m.

The sale sees Yildiz abandon plans to list the Istanbul-based dairy maker. According to the company's prospectus, the company's float value was expected to stand at TRY1.85bn (US$668m) and TRY2.2bn.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now