A Turkish Private Equity Web Log

In an effort to cover the Turkish Private Equity Industry - for the promotion of Entrepreneurship, the private equity asset-investment model, and the communication thereof.

Turkven Invests in Tekin Acar Cosmetics
This will probably not be the last post regarding Turkven Private Equity and its disbursement of its $400+ Million TPEF II Fund. Turkven's latest investment consists of Tekin Acar Cosmetics - the largest selective cosmetics retailer in Turkey with over 40 stores located in 15 cities and a market share of 35%. The Company sells perfumes, skin care, make-up, sun and other products and employs approximately 400 people.

Turkven Managing Director Seymur Tari added: "The Company is well positioned to reach its operational and financial targets with an investment budget of YTL20 million and no financial debt." Turkven Principal Sepin Sinanlioglu Inceer added: "We plan to increase the total number of stores to 100, our market share to 40% and our turnover to YTL150 million."

Commenting on the transaction, Chairman Tekin Acar said: "Our partnership with Turkven will help us better execute our ambitious growth plan in the coming years. Our goal is to increase our market share through geographic expansion and to continue to offer a wide selection of selective cosmetics products to our customers at affordable prices."

Turkven was advised by Baker & McKenzie, Paksoy, Davutoglu (legal), GBC (industry) and PricewaterhouseCoopers (financial & tax). The Sellers were advised by Standard Unlu (financial advisor), Guzeldere and Karaosmanoglu (legal).

It would be interesting to know what is the timeline for this investment with the growth of stores and turnover or what equity stake was taken by Turkven, but unfortunately this information was not given.

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Posted @ 23:11  
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