Japanese ramen and noodle maker Nissin Foods has purchased a 50 percent stake in pasta company Bellini of Turkish Yıldız Holding, the holding company said in a statement on Tuesday.
The deal was worth $23.5 million, according to the statement. The partnership will now focus on producing instant noodles in Turkey, it said, adding that Nissin also aims to open up to the Middle Eastern and African markets through its cooperation with Yıldız Holding. According to its website, Nissin has 21,900 employees, enjoys net sales of over $3.2 billion per year, operates 29 plants in 11 countries and has products sold worldwide. Among Nissin’s products are Cup Noodles, Bowl Noodles, Chow Mein and Top Ramen. Yıldız Holding is Turkey’s largest food producer.