Söke to Acquire 12.65% Stake in Rudi's Organic

Söke acquires 12.65% stake in Rudi's Organic and Gluten Free Brands Inc., a leading US manufacturer and distributor of flour-based products.

As part of its strategy for international growth and investment in high-value-added segments of the food sector, Söke has agreed to acquire a 12.65% stake in Rudi's, a leading food-certified company in the United States. Founded in 1976 in the US, Rudi's specializes in the production and distribution of organic, gluten-free, and tasty bread and flour-based products, and ranks among the leading companies in the field of nutritious, tasty breads and pastries free of preservatives. Söke aims to expand its gluten-free market with Rudi's. Eren Günhan Ulusoy, Chairman of the Board of Söke, stated that the company achieved sales revenue of TRY 1,911 million in the first half of this year. 'This represents a 101% increase compared to the same period last year. Our net profit as of 30 June reached TRY 176 million,' he explained.

Meeting its own energy needs

Eren Günhan Ulusoy provided the following information:

'We are building a solar power plant with an installed capacity of 11,000 kW on 105 acres of land in Ilgın, Konya. This will meet Söke's annual energy requirement of 16 million kWh. Additionally, we acquired a 60% stake in Gen Oyuncak to enable our children to engage with healthy toys and support their creativity and imagination. Gen Oyun Hamuru, which is Turkey's first CE-certified, ISO Food Safety Certified, EN-71 Standards-compliant handmade play dough free of chemicals, is made from wheat flour. Furthermore, in the first half of 2024, Söke entered the biscuit and flour-based products sector with Söke biscuits, and we aim to extend our leadership in the flour sector to the flour-based products sector as well.'