Constituting its highest-profile private equity acquisition to date, VCBank acquired 49 per cent of the Mado Group (Mado) during FY 2016.
Mado is a Turkish-based patisserie and ice-cream café chain franchisor holding company that owns Yasar Dondurma Company, Mado Pazarlama Company, Ege Dondurma Company and Naturel Gida Company. Established in Turkey in 1962 as a single ice cream shop, the Company 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. The Company is headquartered in Kahramanmaras and employs about 1,150 employees.
Mado Group has the franchise rights of Mado, which produces, markets and sells a wide variety of Mado-branded 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 / chain in the eyes of consumers both 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.