Gleiss Lutz advises GELITA on the acquisition of Turkish gelatine producer SelJel
A team of Gleiss Lutz lawyers has advised GELITA AG on its purchase of 65% of the shares in Turkish gelatine producer SelJel. The remaining 35% will remain in the hands of the founding family.
With an output of around 6,500 tons of edible, pharmaceutical and technical gelatine, SelJel is the largest Turkish producer, supplying to international customers as well as the home market. SelJel was founded in 1961. The acquisition is part of GELITA’s growth strategy, allowing the company to meet the increasing demand, in particular for halal beef gelatine. Meeting halal requirements is an important requirement if GELITA is to expand its market shares the growth regions of the Arab countries and large parts of Asia.
The GELITA Group is the global market leader, producing collagen proteins in 23 factories across all the continents, especially for use in the manufacture of food and pharmaceuticals and in technical applications, as well as collagen peptides for the joint pain treatment, weight reduction and cosmetics markets. The group’s headquarters are in Eberbach in Germany. In 2019 the group had a workforce of 2,500 and a global turnover of EUR 749 million.
The following Gleiss Lutz team advised GELITA on the transaction: Dr. Rainer Loges (partner, lead), Dr. Markus Braun, Dr. Julius Scheifele (all M&A, Munich), Dr. Gabriele Roßkopf (partner, corporate), Dr. Matthias Karl (partner), Dr. Johannes Hertfelder (partner), Dr. Lukas Aberle (all competition/antitrust, all Stuttgart), Dr. Stefan Mayer (partner), Dr. Ocka Stumm, Dr. Dominik Monz (all tax, Frankfurt), Dr. Matthias Werner (counsel), Dr. Theresa Uhlenhut (both IP/IT, Munich).
Cerrahoglu advised on the Turkish law aspects.