Yıldız Holding sold Godiva’s Belgian factory, retail and distribution operations in Japan, South Korea, and Australia as well as market development rights in New Zealand to MBK Partners.
Yıldız Holding reached a deal with MBK Partners to sell operational rights in four countries and Belgian factory. According to this deal, MBK Partners will take over retail and distribution operations in Japan, South Korea, and Australia and also the market development rights in New Zealand. Apart from these countries, the holding will continue to have operations in more than one hundred markets and Godiva’s all rights around the globe.
Yıldız Holding will continue to rule Godiva in the world and manage operations in more than one hundred countries. As a part of the deal, Yıldız Holding will continue to buy products from Belgian factory, and also factories owned by the holding in Reading-USA, and Istanbul-Turkey. Also, MBK Partners will have intellectual property rights in mentioned four countries.
Terms of this contract approved by two companies were not disclosed. This deal is expected to be finalized in the middle of 2019 after talks with Belgian workers’ representatives, the Competition Board, and legal conditions.