May 2026
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Largest Food & Beverages Public Companies in Turkey
Benchmark revenue and EBITDA valuation multiples for public comps like
Coca Cola Icecek, Kent Gıda, Anadolu Efes, Ülker and Armada Gida.
 | Coca Cola Icecek AS is an exclusive bottler and distributor of Coca-Cola-branded sparkling and still beverages in Turkey, Pakistan, Bangladesh, Central Asia, the Middle East, and other regions. The brands of the company include Coca-Cola, Fanta, Sprite, Costa Coffee, Crush, Crystal Cola, and others. The company also has the exclusive right to distribute the Schweppes brand in Turkey. The company's revenue is split roughly evenly between sales in Turkey and sales outside of Turkey. | $2 | +60% | $5B | $6B | 1.3x | 6.1x | ||
| Kent Gida Maddeleri Sanayii Ve Ticaret AS operates as a confectionery company. It produces as well as sells candy, chewing gums and chocolates, coffee, salty cookies and powdered beverages. The products of the company are offered under various brands such as Barni, Bubblicious, Milka, Toblerone, Bonibon, tofita, Olips, poptip, and others. Geographically the operations are carried out through Turkey. | $9 | -- | $3B | $3B | — | — | ||
| Anadolu Efes Biracilik ve Malt Sanayi AS produces and distributes beer, sparkling, and still beverages under several brand names. It has joint control over Coca-Cola Icecek, which has the rights to sell Coca-Cola products in Turkey, Pakistan, Central Asia, and the Middle East. The group operates in two segments: Beer Operations (Beer Group) and Soft Drinks Operations (Soft Drinks), and the majority of its revenue is generated from the soft drinks segment. | Alcohol+1 | $0 | +34% | $2B | $4B | 0.7x | 3.1x | |
| Ulker Biskuvi Sanayi AS is engaged in manufacturing marketing, and sale of biscuits, chocolate-coated biscuits, wafers, cakes, and chocolate. The brands of the company include Ulker, Alpella, Albeni, Dido, Laviva, Cocostar, Godiva, Piko, Buklet, and others. Substantially all of the remaining revenue is from cake sales. The company earns majority of its revenue from domestic market. | $3 | +8% | $951M | $2B | 0.7x | 4.3x | ||
| Armada Gida Ticaret Sanayi AS is engaged in processing, pre-cooking with the extrusion method, and selling, importing, and exporting pulses, cereals, bulgur, organic products, superfoods, pulse flour, rice, gluten-free products, and other products. | $3 | +249% | $714M | $839M | 3.2x | 20.0x | ||
| Cem Zeytin AS is engaged in production of pickled black and green olives, olive storage, processing and packaging. | $0 | -17% | $684M | $698M | 11.4x | (291.0x) | ||
| Oba Makarnacilik Sanayi ve Ticaret AS is engaged in the food sector. The company operates in the pasta, noodle, flour, semolina, and wheat products food sector. The company is also engaged in the purchase and sale of grains (wheat) as a commercial activity. It carries out its production activities in Gaziantep Plant and Hendek Plant. | $0 | -2% | $525M | $443M | 0.9x | (17.2x) | ||
| Efor Yatirim Sanayi Ticaret AS manufactures and produces teabag, teapot bag teas, and herbal and fruit teas. The company plants tea plants in the black sea region using domestic methods with technological twists. The teabags of the company has its fruit taste and pleasant aroma of spices, and herb mixtures together in the right proportions, O.P.A. Ceylon teas and products for Out-of-Home Consumption (OOH) which keeps person fit. | $0 | -- | $503M | $522M | 1.9x | 37.2x | ||
| Meysu Gida Sanayi Ve Ticaret AS is engaged in producing fruit juice and similar beverages under the "Meysu" brand. The company's product portfolio include Coffee, Fruit juice, Fruit Nectar, Fruit Drinks, Active Health, Energy Drink, Ice Tea, Lemonade, Frutbox, Sherbet and Fizzy Drinks. Geographically, it serves various countries including Asia, Europe, America, and Africa. | $0 | -- | $338M | $338M | — | — | ||
| Balsu Gida Sanayi Ve Ticaret AS operates in food industry. The company's product ranges from natural hazelnuts, chopped hazelnuts, roasted hazelnut kernels, blanched hazelnut kernels to hazelnut paste and hazelnut flour. | $0 | -45% | $323M | $613M | 1.6x | 15.9x | ||
| Kayseri Seker Fabrikasi AS engages in the production and trade of crystal, granulated and cube sugar, wet pulp, dry pulp, molasses, dried pulp with molasses, limestone, electricity production, and trade of seeds and fertilizers which are by-products of the sugar industry. | $0 | -6% | $300M | $489M | 0.7x | 6.9x | ||
| Median | $0 | +3% | $684M | $698M | 1.3x | 6.1x |
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