Azersun Holding

Azersun Holding MMC (Azerbaijani: Azərsun Holdinq MMC) is an Azerbaijani conglomerate that operates in the food production, retail, and farming sectors primarily in Azerbaijan but also in other CIS countries and the Middle East. Azersun is the largest food producer and exporter in Azerbaijan (with 28 food brands produced) and also engages in the trade of paper and packaging.[2][3]

Azersun Holding MMC
IndustryFood manufacturing
FounderAbdolbari Goozal
HeadquartersAzerbaijan
Revenue730 million Azerbaijan Manat ($430 million USD) (2018)[1]
Total equity279 million Azerbaijan Manat ($164 million USD) (2018)
Websitewww.azersun.com

History

After the collapse of the Soviet Union, the Azerbaijani government determined to establish an efficient private-sector food manufacturing capability so as to not rely on processed food imports.[2] As existing food manufacturers were not prepared for the wave of international competition set off by Azerbaijan's independence, the industry was ripe for consolidation.[2] Brothers Abdolbari Goozal (born 1949) and Hassan Gozal (both born in Iran to a Kurdish family that later moved to Turkey)[4] saw an opportunity and set up a local branch office of their Unilever distributorship in Baku.[4][2] They first began to distribute solely Unilever products and then added other brands and then secured a contract with Unilever to establish a manufacturing facility that was jointly owned.[4] Eventually they branched out on their own and with the support of the government, they began to purchase, consolidate, and restructure existing Azerbaijani companies creating the first and largest Azerbaijani private food conglomerate.[2]

In 1996, they established their trading company in Dubai.[4]

Acquisitions and subsidiaries

Subsidiaries of Azersun include:[5]

  • Sun Tea Çay Fabriki - tea factory purchased in 1994
  • Bakı Qida və Yağ Fabriki - edible oil factory purchased in 1995
  • Zeytun emalı Fabriki - paper factory purchased in 1997
  • Azərbaycan Kağız Karton Istehsalat Kombinati - cardboard factory purchased in 1997
  • Qida Paketləmə Müəssisəsi - food processing factory purchased in 1998
  • Zeytun Emali Fabriki - olive processing factory purchased in 2002
  • Qafqaz Konserv Zavodu - canned food factory purchased in 2003
  • Qafqaz Metal Qablaşdırma Sənaye - metal packaging factory purchased in 2005
  • Zaqatala Fındıq Fabriki - Hazelnut factory purchased in 2006
  • Azərbaycan Şəkər İstehsalat Birliyi - Azerbaijan's largest sugar refiner purchased in 2006
  • Natural Green Land - edible oil factory established in 2006
  • Qənd İstehsalı Fabriki - sugar producer purchased in 2009
  • Azərbaycan Duz Istehsalat Birliyi - salt factory purchased in 2010
  • Qazax Konserv Zavodu - canned food factory purchased in 2012
  • Green Tech Istixana Kompleksi - vegetable products company purchased in 2012
  • Kürdəmir Süd Kompleksi - dairy purchased in 2013
  • Sumyagit Yag Fabriki - edible oil factory purchased in 2014

References
  1. "Annual Report for Azersun Holding MMC" (PDF). Azersun Holding (in Azerbaijani). December 31, 2018.
  2. Azersun Holding: History retrieved May 10, 2017
  3. "Abdolbari Goozal, the President of Azersun Holding, the largest Azerbaijan Company in foodstuff production, trade and agriculture sectors, has become the Chairman of the Azerbaijan Entrepreneurs Confederation (ASK) Commission". ABC Azerbaijan. April 18, 2014.
  4. "Azersun – The Mind-set of Growth". Tharawat Magazine. August 15, 2016. Archived from the original on December 18, 2016.
  5. "HOLDİNQİN ŞİRKƏTLƏRİ". Azersun.com (in Azerbaijani). Retrieved March 5, 2020.
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