Tropikal Pet, a Turkish company celebrated for producing pet food under well-known brands like Goody and Champion, has recently secured a $9 million investment from Eminova Holdings International. This financial infusion is geared towards enhancing the company’s capabilities, including expanding production capacity, doubling current export sales, introducing novel products, addressing escalating working capital purchase costs, optimizing production levels, and making inroads into the U.S. market.
Izzet Saban, Tropikal Pet’s CEO, underscored the global uptick in pet food sales and underscored the pivotal role of this agreement in broadening their footprint in the Turkish market and establishing a presence in the competitive U.S. market.
To fortify the brand further, Tropikal Pet intends to allocate additional resources to advertising and marketing efforts, leveraging the augmented budget resulting from this strategic investment, as highlighted by Saban.
Under the terms of the agreement, Eminova Holdings International, in collaboration with its subsidiary Eminova Funding, is set to provide comprehensive support to Tropikal Pet.
Tropikal Pet’s journey began in 1999 as an importer, debuting the Champion brand. In 2005, the company inaugurated Türkiye’s inaugural dry cat/dog food factory and unveiled the Goody brand. Presently, the company operates with an impressive 30,000-ton annual capacity at its facility in Tuzla, Istanbul.
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