Bezen & Partners | News

B&P advises Turkey-based dried fruit, nuts and seeds producer Peyman Kuruyemis

Bezen & Partners has advised one of the leading Turkish producers of dried fruit, nuts and seeds producer Peyman Kuruyemiş A.Ş. in the expansion of its business with a €32 million loan from the EBRD.

The EBRD loan will allow Peyman, owned by Bridgepoint, a major international private-equity fund, to build a new production facility in the industrial zone of Eskişehir, a city in north-western Turkey.

The new 59,000 m2 facility will become operational in the first half of 2018 and by 2023 it will have doubled Peyman’s production capacity to 45,000 tonnes. The facility’s modern layout and state-of-the-art equipment will help increase efficiency and save costs, freeing up resources for new products such as snack bars and popcorn, according to EBRD.

The new facility will apply high standards and the best available techniques, enabling Peyman to increase exports to the European Union. Building on Bridgepoint’s network and experience in the global food industry, the company aims to increase its presence in international markets.

The EBRD loan will also finance Peyman’s day-to-day operations such as buying fruit, nuts and seeds from local farmers, storing, processing, drying and packaging the produce.

Arvid Tuerkner, EBRD Managing Director for Turkey, said: “Peyman has successfully transformed itself from a small regional player into an internationally recognised brand. The EBRD is pleased to be part of this story of transformation and growth. We applaud the company’s commitment to working more closely with Turkish farmers and helping them increase their productivity and incomes. We believe this will help strengthen rural communities and boost the economies of the country’s remote regions.”

Tuncer Akgün, Chairman of the Board of Directors at Peyman, said: “EBRD’s financing is an indicator of faith in Turkey, our industry and in Peyman. The loan will help us sustain our continuous growth and strengthen our position as we work to become a global Turkish brand.”

Yeşim Bezen, Senior Partner of Bezen & Partners, commented: “We have been working closely with Peyman over the last year to support and improve their international brand awareness and objectives. Overall, this is an exciting accomplishment for everyone at Peyman and for us here at Bezen & Partners.”

Bezen & Partners team working on the financing side of the deal consisted of senior partner Yeşim Bezen and senior associate Can Özilhan.