Turkish Ice-Cream Chain Mado Said to Seek Private Equity Partner

The owners of Turkey’s biggest ice-cream seller are planning to sell half of the company to a private equity investor in a bid to expand operations in the country and abroad, a person familiar with the matter said.

The owners, a trio of brothers from the Kambur family, are in advanced talks with three buyout firms about a bid, the person said, asking not to be identified because the negotiations are confidential.

Formally known as Yasar Dondurma ve Gida Maddeleri AS, the Kamburs’ company markets ice-cream and pastry products under the Mado brand. The whole of the company may have an enterprise valuation, a measure of its market value plus debt, of 600 million liras ($203 million), the person said.

Executives from Kahramanmaras, Turkey-based Yasar Dondurma declined to comment. The company has more than 250 outlets, mostly in Turkey. It has stores in Australia, Saudi Arabia, Iraq, Qatar, Dubai and Russia, according to its website.

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