Subsidiaries - Godiva Belgium BVBA. (Godiva)

Godiva

With the agreement signed in December 2007, the world’s leading premium chocolatier brand, Godiva, has become an official member of Yıldız Holding. Ülker Bisküvi played an active role in this process by acquiring 25.23% shares of Godiva.

Godiva, established in Brussels in 1926 by Joseph Draps, takes its name from the legendary story and personality of Lady Godiva, and has been producing premium chocolate products for 80 years. The Godiva brand serves its customers through 450 stand alone boutiques and 9,300 sales points worldwide with more than 60 products ranging from premium chocolates to biscuits, from coffee to cocoa, chocolate drinks, cakes and chocolate bars. Having opened its first boutique in the United States on New York’s Fifth Avenue in 1972, Godiva offers its products throughout four geographic regions, including North America, Japan, the Pacific region and Europe.

The world trend, leaning towards a combination of biscuit-chocolate, has made a big imprint on Ülker Bisküvi’s partnership with Godiva by 25.23%. In an important breakthrough, Ülker Bisküvi is taking advantage of this opportunity by sharing experiences and acquiring a synergy in the international arena.

Regarding the synergy that will be acquired by joining Yıldız Holding, Jim Goldman, Godiva CEO, asserted in an interview to Capital magazine in May 2008 that they were very impressed when they saw the technology Yıldız Holding owns in biscuit and chocolate production. He stated, “In comparison to us, Yıldız Holding has great opportunities for growth in markets such as Turkey and Middle East, where they know the markets better than we do. As a member of the Yıldız family, we intend to increase investments and growth rates. This business can definitely reach a billion dollar level”.