Efor Çay and Ofçay Announce Strategic Partnership

Efor Holding continues to make sustainable contributions to Turkey's domestic and national development vision. Efor Çay, one of the holding's group companies, is strengthening its market position by incorporating Ofçay, one of the sector's established brands. Through this merger, Efor Çay will achieve a total fresh tea processing capacity exceeding 2,000 tonnes daily. 

Ofçay's long-standing experience combines with Efor Çay's innovative and dynamic structure to create a strong synergy in Turkey's tea market. With this merger, the company rises to the position of Turkey's third-largest tea producer by production volume. The Ofçay brand, which will operate under the Efor Holding umbrella, aims to increase competitiveness in both domestic and international markets through product diversity meeting consumer expectations, innovative production approach and extensive distribution network. Following the acquisition, production capacity is expected to increase by 100 percent, while production area is expected to grow by 85 percent. 

"We Are Working for Turkish Tea to Take Its Rightful Place in the World"
Efor Holding Board Chair İbrahim Akkuş stated, "This is not merely an acquisition transaction, but a far greater vision. This strategic merger that brings domestic production together with global vision represents an important milestone in Efor Holding's integrated growth model. Over the more than half-century since we took our first steps in Anatolia, we have progressed with patience and strategic wisdom. Today we are building a strong industrial ecosystem spanning agriculture to energy, food to real estate.

For us, tea is far more than a beverage—it is a carrier of culture, the common language of tables and friendships. Therefore, we do not view the growth of Efor Çay merely as an economic success. We also carry the responsibility of being custodians of a heritage with cultural significance. We interpret the merger we have accomplished with Ofçay as a strategic value integration combining the synergy of two rooted visions. While securing our place in traditional channels throughout every corner of Turkey, we aim to make our voice heard more powerfully in global markets. Because we are working for Turkish tea to take its rightful place in the world."

"In Turkey's Tea Sector, We Aspire Not Only to Market Leadership but to the Future"
Efor Holding CEO Ahmet Demir, stating that Ofçay's incorporation into the Holding marks the beginning of an entirely new era in the tea sector, said, "In Turkey, tea carries the character of a cultural ritual beyond being an agricultural product. As Efor Holding, we extract a strategic economic model from within this ritual. With our management approach aiming to transform competition, we take our place in the future of the tea sector with our production power and through our data-driven, agile corporate culture that invests in people.

This merger offers a new growth format that goes beyond mutual market competition and is shaped by a vertical synergy model. This process is a transformation that scales flexible structure, creating an integrated value chain from production to logistics, from distribution to marketing. In Turkey's tea sector, we aspire not merely to market leadership but to the future." 

Production Capacity to Increase 100 Percent
Efor Holding Food and Beverage Group Chair Ediz Kaboğlu stated, "The merger of Efor Çay and Ofçay creates a strong synergy model integrating two different production cultures, expertise and vision. Through this merger, we achieve a total fresh tea processing capacity exceeding 2,000 tonnes daily, rising to third place in the tea sector in terms of total capacity and market share. Ofçay's expertise, production technologies and functional product range align with Efor Çay's sustainable growth objectives, both expanding and deepening our product portfolio.

With the public offering process completed in 2024, we secured investor confidence of TRY 1.3 billion. As of today, we operate with over 13 production and energy facilities in the sector. At our fresh tea facilities in Trabzon, Rize and Artvin, we have a total fresh tea processing capacity of 139,000 tonnes. This strong production infrastructure progresses in integrated fashion with our sustainability vision through our 9.95 MW solar energy power plant in Malatya Arapgir. Turkey holds world leadership in per capita annual tea consumption at 4 kilograms.

Such strong domestic demand has directed us beyond volume growth toward the high value-added tea segment. As of 2024, Efor Çay achieved sales of 18,427 tonnes, while Ofçay achieved 12,427 tonnes. The decline seen on a tonnage basis is actually a natural result of strategic portfolio optimization and shift to high value-added products. This transformation will drive our brand value and revenue performance upward. With the Ofçay merger, our distribution channels expanded tenfold. Today, thanks to our strong distribution infrastructure connecting consumers in 7 regions across 51 provinces, we achieve sustainable success not only in production but also in reach." 

"We Are Completing a Strong Growth Architecture Through Financial Engineering"
Efor Holding Financial Affairs and Finance Group Chair Selin Uras, noting that the merger brings not only operational but also strategic financial gains, made the following assessment: "The merger of our country's two valued brands is a strategic growth initiative strengthening national capital, supporting sustainability-focused investments and completing our integrated financial architecture. Through this merger, we have strengthened not only our balance sheet size but also our corporate governance culture and ESG-aligned financial sustainability vision."

Selin Uras also shared Efor Holding's 2024 performance data, stating, "As a group, we have exceeded USD 300 million in net sales and USD 500 million in total assets. Efor Çay's market value has reached USD 1.3 billion as of today. Together with Ofçay, we will achieve efficiency gains in the short term and reach our high value-added production target more rapidly in the medium term. This merger reflects the application of our financial engineering capabilities to operations."