TPG MOVES INTO TURKEY

San Francisco-based Texas Pacific Group and the Nurol-Limak-Ozaltyn-Tutsab of Turkey, owners of Mey Alcoholic Beverages, signed an agreement to enter a partnership regarding Mey. Mey is Turkey’s leading producer of raki with 80% share, and is one of the largest producers of wine in the country. The completion of the transaction is expected to come later this year. “The investment is the first of hopefully several by TPG in Turkey and is a reflection of the great progress of the Turkish economy in recent years," said TPG Partner Stephen Peel. TPG also has significant investments in Beringer Wines, Spirits Group, Punch Taverns, Neiman Marcus and Burger King.