SINIORA FOOD ACQUIRES 77% STAKE IN POLONEZ

The Jordan-based Arab Palestinian Investment Company’s (APIC) subsidiary Siniora Food Industries Group has acquired a 77% stake in Trakya Et ve Sut Urunleri San. ve
Tic. AS operating in the deli meat market under the brand of Polonez for USD 28.3m, The Competition Authority has approved the share purchase agreement, according to the statement from Polonez. “As Siniora Group, our investments will continue in line with our strategy to enlarge the global markets and to reach Europe through Turkey,” said Boran Uzun, CEO of Polonez. With this acquisition Siniora Food expects to increase its revenues to USD 50m by the end of this year, according to Majdi Al-Sharif, CEO of Siniora Food Industries Group.