17.02.2026 16:51
Gündoğdu Food, citing rising costs and a raw material crisis, has decided to completely cease its production activities. The company has initiated the sales process to transfer its factory in Manisa and all its equity to GND Dairy Products.
Gündoğdu Food, which has attracted attention with its recent rise on the Istanbul Stock Exchange, announced that it has halted its production activities. The company stated that it has withdrawn from production due to increasing operational costs and difficulties in raw material supply.
In a notification made to the Public Disclosure Platform (KAP), it was stated that the pricing difficulties in the agriculture and livestock sector have made sustainability impossible. Although the company has ceased production, it announced that it will continue its commercial activities under its current legal entity.
FACTORY AND ASSETS ARE BEING TRANSFERRED
The company management decided to sell the factory building in Salihli district of Manisa, along with the machinery, facilities, and equipment inside it; as well as the solar energy system in Kula district, to the related party GND Dairy Products Industry and Foreign Trade Inc. for cash.
According to the reports dated December 31, 2025, prepared by the valuation institution authorized by the CMB;
- Factory building and the machinery, facilities, and equipment inside: 284 million 195 thousand TL
- Solar energy system: 29 million 500 thousand TL + VAT
- Other machinery and facilities: 5 million 125 thousand TL + VAT
- Fixed assets outside the scope of valuation obligation: 88 million 862 thousand 930 TL + VAT
SALE PRESENTED TO THE GENERAL ASSEMBLY
The sale transaction was evaluated as a "related party transaction" within the scope of the relevant notifications of the CMB and it was announced that it would be submitted for the approval of the general assembly.
According to CMB regulations, shareholders who hold shares as of February 16, 2026, and vote against the transaction at the general assembly will have the right to withdraw. The company has set an upper limit of 100 million TL for the shares that can be purchased under the withdrawal right.
The company management announced that it plans to evaluate the resources obtained in new investment areas.
MEASURES TAKEN ON GÜNDOĞDU SHARES FROM ISTANBUL STOCK EXCHANGE
As a result of the examinations conducted yesterday, Borsa Istanbul decided to implement preventive measures regarding Gündoğdu Food (#GUNDG. E) shares.
According to the statement sent by BIST to the Public Disclosure Platform (KAP), within the scope of the Volatility-Based Measure System (VBTS), GUNDG shares will not be subject to short selling and margin trading from the beginning of the session on February 17, 2026, until the end of the session on March 16, 2026.
HERE IS THE COMPANY'S STATEMENT TO KAP
The statements made to KAP regarding the cessation of food production by Gündoğdu Food are as follows:
"With the decision of our Board of Directors dated 16.02.2026 and numbered 2026/03;
Due to the difficulties in raw material supply, increasing production costs, and pricing difficulties in the agriculture and livestock sector, it has been decided to terminate our company's food production activities, and our company will continue its commercial activities.
In this context;
It has been decided to sell and transfer our factory building located in Salihli district of Manisa, along with the machinery, facilities, and equipment inside, and the Solar Energy System located in Kula district of Manisa, Esenyazı Neighborhood, parcel 127, based on the values determined in the valuation reports dated 31.12.2025 prepared by the valuation institution authorized by the CMB, to our related party GND Dairy Products Industry and Foreign Trade Inc. for cash.
The amounts determined in the valuation reports are as follows:
Factory building and the machinery, facilities, and equipment inside: 284,195,000 TL
Solar Energy System: 29,500,000 TL + VAT
Other machinery and facilities: 5,125,000 TL + VAT
Other fixed assets not subject to valuation obligation: 88,862,930 TL + VAT
The transaction in question is considered a related party transaction within the scope of the CMB's Corporate Governance Communiqué numbered II-17.1, and independent valuation reports were used in determining the transaction amounts.
Since the transaction meets the materiality criteria within the scope of the CMB's Communiqué on Significant Transactions and Withdrawal Rights numbered II-23.3, it will be submitted for the approval of the general assembly. According to the relevant communiqué of the CMB, shareholders who hold shares as of 16.02.2026 and vote against the transaction at the General Assembly meeting will have the right to withdraw. An upper limit of 100,000,000 TL has been set for the shares that can be purchased by our company under the withdrawal right.
While our company is terminating its food production activities, it will continue its commercial activities under its current legal entity, and it is planned to evaluate the resources obtained in new investment areas."
"It has been publicly announced in the decision of our Board of Directors numbered 2026/03 dated 16/02/2026 that the food production activities of our company will be terminated and the existing production facilities will be sold. In this context, in the same meeting of the Board of Directors dated 2026/04;
1- Considering that the sale of our Food Production facilities as a whole constitutes the "materiality criterion" within the framework of the CMB's II-23.3 "Communiqué on Significant Transactions and Withdrawal Rights," it has been evaluated as a "significant transaction" and will be submitted for the approval of our company's general assembly.
2- Regarding the termination of the Food Production activities, which are included in our Main Activity subject, the withdrawal right will be exercised at the price of 237.045 TL (for 1 Lot), which is the arithmetic average of the "daily adjusted weighted average prices" formed in the stock market during the last six-month period prior to the date when the transaction was first publicly announced, in accordance with the provisions of the CMB's II. 23.3 Communiqué on Significant Transactions and Withdrawal Rights.
3- The transaction will be evaluated within the scope of the Capital Markets Board's (II-23.3) Communiqué on Significant Transactions and Withdrawal Rights; it will be accepted and declared that shareholders or their representatives who will participate in the ordinary general assembly meeting and vote against the relevant agenda item and record their dissent in the meeting minutes have the right to withdraw by selling their shares to the partnership.
4- Shareholders who will participate in the Ordinary General Assembly Meeting and vote against the relevant agenda item and record their dissent in the meeting minutes will be authorized to use their withdrawal rights for all of their shares through an intermediary institution authorized to carry out the purchase transaction on behalf of our company. In this context, transactions will be carried out through Pusula Investment Securities Inc.
Regarding the authorization of Ş.,
5- It is announced that shareholders who will exercise their right to withdraw must deliver the shares subject to the right of withdrawal to Pusula Investment Securities Inc., authorized by our Company, within the withdrawal right exercise period and request the sale to be carried out, and that the share prices must be paid no later than the business day following the sale.
6- The dates for exercising the right of withdrawal will be determined after the Ordinary General Assembly Meeting.
The decision was made unanimously by the participants.