Turkish flour producer Söke bought 12.65% of U.S.-based bread maker Rudi's, the head of Turkish firm said Monday.
Eren Günhan Ulusoy said the purchase was completed on Sept. 22, according to a press release.
Established in 1976 in Colorado, Rudi's is especially active in organic and gluten-free bread making.
Söke's income last year amounted to 2.49 billion Turkish liras (about $150.2 million), while its sales reached 1.9 billion liras (about $116.7 million) in the first half 2023, Ulusoy said.
The firm is also expanding its activities into other sectors, including energy, Ulusoy explaining: "We are building a solar power plant with an installed capacity of 11,000kW on 105 decare-field (about 26-acre) in central-Anatolian province Konya to meet Söke's annual energy need of 16 million kWh."
