05.08.2025 22:35
In 2019, Ofçay, which is owned by the globally renowned Jacobs coffee brand's parent company JDE Peet's, is being transferred to another local tea brand, Efor Çay. In a statement made to the Public Disclosure Platform (KAP) by the company, it was announced that an agreement has been reached for Ofçay to merge through acquisition.
One of Turkey's largest tea brands, Ofçay, is being transferred to another local tea brand, Efor Çay.
The company, which was acquired in 2019 by Jde Peet's, the owner of the world-famous Jacobs coffee, had announced in May that it would divest its tea operations in Turkey.
RESELLING AFTER 6 YEARS
Following the announcement, there was curiosity about who the new owner of Ofçay would be, while another local tea brand, Efor Çay, announced that an agreement had been reached for the merger of Ofçay through acquisition.
KAP STATEMENT RELEASED
In a statement made to KAP by the company, the following information was provided: "In the meeting of our Board of Directors dated 09.04.2025, it was decided to initiate negotiations for the acquisition of Of Çaysan Agricultural Products Integrated Facilities Industry and Trade Inc. by Efor Holding A.Ş. Following the completion of the acquisition process, it was planned for the relevant company to merge with our Company or to become a subsidiary."
It was decided that the information regarding this process would not be publicly disclosed under Article 6 of the Capital Markets Board's II-15.1 Communiqué on Special Situations, and the announcement would be postponed; this was aimed at protecting the legitimate interests of our Company and our partners, preventing misleading of investors, keeping the process confidential and subject to evaluation, and preserving the competitive conditions of the offer/tender.
In accordance with the Capital Markets Law No. 6362 ("CML"), the Capital Markets Board ("CMB"), the II.23.2 "Merger Communiqué" of the CMB, and other relevant regulations of the CMB, the Turkish Commercial Code No. 6102, the Corporate Tax Law No. 5520, and other relevant legal provisions, it was unanimously decided to initiate the processes regarding the merger of Of Çaysan Agricultural Products Integrated Facilities Industry and Trade Inc. ("Ofçay") with all its assets and liabilities through a non-liquidation acquisition by our Company, in order to grow in the market and strengthen its current position, and to benefit from economies of scale in administrative and production/sales functions, and to apply to the CMB for the completion of the relevant legal processes, and to authorize the General Directorate for the execution of marketing, advertising, and launch activities."