Pladis plans London stock exchange listing from 2020

09-Jun-2016 - Last updated on 10-Jun-2016 at 12:39 GMT

New £3.58bn business Pladis planned an Initial Public Offering as early as 2020

Pladis, the new £3.58bn business formed from Yildiz Holding, is planning an Initial Public Offering (IPO) as early as 2020, with a view to list on the stockmarket in London

An IPO would see the company launch shares which could be sold to investors.

The new firm, which was unveiled on Wednesday (June 8), included Yildiz Holding’s brands: United Biscuits (UB), Godiva Chocolatier, Ulker and DeMet’s Candy Company.

Cema Karakas, Pladis chief executive, said the company would be embarking on a growth strategy that would include expanding McVitie’s products into new global markets. He said he wanted to strengthen the “growth trajectory”.

The company would need to prove its growth strategy is working by successfully expanding into new markets such as Middle East, Turkey, China, Australia and Sub-Saharan Africa, he said.

More innovation

Karakas also said that as one company it can be more “agile” and allow for more innovation and synergies around its brands.

He said: “We have significant growth ambitions for Pladis with the aim to outperform the category standard year-on-year.

“This is supported by our capital position and the strength of our manufacturing as only one of two companies in the world that produce such a broad range of biscuits and confectionary.”

On the look-out for deals

Karakas had no plans to purchase any other food business but was on the look-out for deals that would help it get access to certain geographical areas, according to reports.

A key business objective will be to outperform the category standard year-on-year, he added.

Its growth ambitions were supported by the group’s capital position and the strength of its manufacturing, “as one of only two companies in the world that produce such a broad range of biscuits and confectionery”.

Pladis operated 36 factories in 13 countries and employed 26,000 people. It will be led by Cem Karakas, ceo, who will be based in London and Ali Ulker will be vice chairman focusing on innovation and strategy.

Yildiz Holding currently owns more than 320 brands in over 40 categories and employs 50,000 people.

Yildiz purchased UB in November 2014 for a reported £2bn.

In March, 2016 UB boss Jeff van der Eems, stepped down from his role as ceo after less than a year.

He had replaced Martin Glenn, who left to join the Football Association in April 2015. UB executive chairman Jim Zaza took on the ceo responsibilities.