Kerten Buys 30% Stake in Chocolate Maker Elit

Irish private equity firm Kerten has acquired roughly a third of Turkish chocolate company Elit, Reuters reported, citing a story in Hurriyet newspaper. Financial terms of the deal were not released.

(Reuters) – Irish private equity firm Kerten bought almost a 30 percent stake in Turkish chocolate maker Elit, Hurriyet newspaper reported, citing Elit Chief Executive Burak Halimoglu.

Halimoglu didn’t disclose a price for the transaction, according to the newspaper. Kerten bought the stake from the Kucuk family, which controls Elit, Hurriyet said.

Elit targets annual growth of 30 percent, Halimoglu said.