Mado Group

VCBank holds a 49 per cent stake in the Mado Group. Established in Turkey in 1962 as a single ice cream shop, Mado has grown to be the leading Turkish ice-cream brand as well as by far the largest café / patisserie chain franchisor in the country, with 302 franchise stores in 49 cities nationwide. The Group has 33 international franchised stores in Bulgaria, Azerbaijan, Nakhchivan, Cyprus, Iraq, Saudi Arabia, Qatar, the UAE, Kuwait and Bahrain.

Mado Group has the franchise rights of Mado, which produces, markets and sells a wide variety of food products via a franchise store network and a business-to-business (B2B) channel. Products include ice creams, dairy desserts, sweet pastries, cakes, bakery, meals and juices. Mado is regarded as the leading ice cream brand by consumers in Turkey and the Middle East. According to Euromonitor, Mado is currently the leading company in the Turkish café / patisserie market with the highest market share, estimated to be almost double that of its closest competitor.