ULUSOY UN MAKES A STRATEGIC INVESTMENT BY ACQUIRING A PASTA PRODUCTION COMPANY IN ITALY

ULUSOY UN MAKES A STRATEGIC INVESTMENT BY ACQUIRING A PASTA PRODUCTION COMPANY IN ITALY

Ulusoy Un, Turkey's largest flour producer, has added a new one to the important steps it has taken in its growth journey. In line with its strategy to expand in high value-added areas, Ulusoy Un acquired 85% of the shares of Pastificio Mediterranea S.r.l. (“the Company or Pastificio Mediterranea”), which has been producing high quality Italian pasta for more than 100 years in the Silvano d'Orba region of Italy, from the Spanish Cerealto group. The founding Moccagatta family will continue to be involved in the Company and pass on their know-how.

With roots dating back to 1908, Pastificio Mediterranea began pasta production with traditional Italian pasta-making techniques in the hills 30 kilometers from Genoa and the Mediterranean Sea. By 1936, handcrafted production was replaced by the region's first automated pressing systems. In the 1950s and 1960s, the Company's product portfolio moved to the international market with the iconic Moccagatta suitcase.

In 2003, in order to meet the growing demand, the plant in Ovada was replaced by the modern plant in Silvano d'Orba, where it operates today. Pastificio Mediterranea produces high quality Italian pasta in over fifty different sizes and shapes and offers it to markets in different geographies under various brands, including “Moccagatta dal 1908”. It also realizes private label production.

Pasta, which can be consumed in different forms in every culture, is considered one of the most important foods in the world in terms of its long shelf life, high nutritional value and its ability to be blended and served with sauces suitable for various tastes. In addition to being one of the symbolic foods of Italy, Italian pasta has the highest share in world exports and consumption in the premium segment, which is produced from 100% durum wheat.

Ulusoy Un Chairman Eren Günhan Ulusoy: “We are impressed by Pastificio's know-how built over 100 years.”

We believe that our new strategic investment in high quality and value-added pasta production will strengthen Ulusoy Un's growth steps and accelerate our new investments and future achievements. With our Group's raw material supply capabilities and extensive customer network in different geographies, we will contribute to Pastificio's growth and further expand its geographical reach.

Ulusoy Un CEO Zahit Çetin: “This investment will be one of the milestones of our sustainable growth strategy. We are proud to start the pasta sector from the top league.”

We will continue to reinforce our strength by adding momentum to our presence in different areas of the food industry with the knowledge gained by the facility established in Italy and the expert team. We are acquiring a company with a deep-rooted brand heritage. We believe that we will create strong synergies with our vertical growth strategy in sectors where wheat, the basic food source of humanity, is used as raw material.

Marco Ferraroni, General Manager of Pastificio Mediterranea: “We are excited to continue our journey with an important Group that shares our company's values and goals. We are confident that together we will take our company to the next level.”

Bosco Fonts, CEO of Cerealto: “We are confident that Pastificio will have great development opportunities by leveraging Ulusoy Un's vision, experience and extensive worldwide business network and customer base. I would like to thank the Pastificio team for the great results, effort and hard work they have achieved over the last few years and wish them great success in the new future with Ulusoy Un.”