news - FMO supports Ulusoy Un’s expansion into pasta production with USD 75 million facility

FMO, the Dutch entrepreneurial development bank, has signed a USD 75 million senior secured loan agreement with Ulusoy Un Sanayi ve Ticaret A.S., one of Türkiye’s leading flour milling and agri-processing companies. The facility will support Ulusoy Un’s strategic expansion into pasta production and storage infrastructure, while also refinancing existing loans.

Founded in 1969, Ulusoy Un has grown from a regional grain distributor into a vertically integrated agri-food company with operations spanning flour milling, commodity trading, warehousing, and branded consumer products. With five milling facilities across Türkiye, one pasta factory in Italy and a Swiss-based trading subsidiary, the company is a key player in both domestic and international food supply chains. Ulusoy Un is also listed on the Turkish Stock Exchange and has a strong track record of resilience, navigating economic volatility, regulatory shifts, and global supply chain disruptions.

The new financing will enable Ulusoy Un to construct a state-of-the-art pasta factory and expand its storage capacity near its Samsun milling facility, a strategic port city on the Black Sea. The pasta facility is expected to begin operations in 2026, with 60% of production earmarked for export to low- and middle-income countries in Sub-Saharan Africa and South America. The project will also support Türkiye’s position as the world’s second-largest pasta exporter by volume.

Türkiye remains a strategic country for FMO, given its role as a regional hub for agri-processing and trade. Despite macroeconomic challenges, the country’s food sector continues to show strong export performance, particularly in flour and pasta. FMO’s financing helps ensure that companies like Ulusoy Un can continue to innovate and expand sustainably, while contributing to food security and economic resilience across emerging markets.

FMO’s investment aligns with several Sustainable Development Goals (SDGs), including:

• SDG 2 – Zero Hunger: By increasing the supply of affordable, high-protein staple foods to underserved regions.
• SDG 8 – Decent Work and Economic Growth: Through the creation of  new jobs, with 20% reserved for women.
• SDG 13 – Climate Action: With up to 42% of the loan eligible for FMO’s Green Label, thanks to energy-efficient technologies and logistics optimization.

The facility also supports Ulusoy Un’s broader sustainability ambitions, including investments in renewable energy and improved ESG practices. The company recently published its first Sustainability Report with support from FMO’s technical assistance program and is exploring regenerative agriculture initiatives.

“Ulusoy Un has demonstrated resilience and innovation in a challenging market environment,” said Tugce Kockaya-Beker, Manager Agribusiness, Food & Forestry at FMO. “We are proud to continue supporting their growth and diversification, which contributes to global food security, climate resilience, and inclusive economic development.”

Dr. Eren Günhan Ulusoy, Chairman of the Board at Ulusoy Un, said: “Our partnership with FMO marks a new milestone in our growth and diversification strategy. This financing will not only support our entry into pasta production but will also strengthen Türkiye’s leading position in global food exports and enable us to provide more accessible food to millions of people around the world. Our long-term collaboration with FMO accelerates our growth objectives both in Türkiye and across international markets.”

Adding to this, Zahit Çetin, Chief Executive Officer of Ulusoy Un, stated that the financing from FMO will enable the company to establish a state-of-the-art pasta factory, expand its storage infrastructure, and diversify its portfolio with more value-added products. “These strategic steps reinforce our leadership in the agri-food sector while contributing to global food security, inclusive growth, and sustainable development,” he noted.

The loan includes a 7-year tenor with a 2-year grace period and is structured to mobilize additional funding from institutional partners. It builds on FMO’s longstanding relationship with Ulusoy Un, which began in 2018 and has supported multiple phases of the company’s growth.

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About Ulusoy Un:

Founded in 1969 by Fahrettin Ulusoy, Ulusoy Un Sanayi ve Ticaret A.Ş. has evolved from a regional grain distributor into Türkiye’s largest flour producer and a leading player in the agri-food industry. The company operates five flour milling facilities with a consolidated wheat processing capacity of 4,415 metric tons per day and manages licensed and free-zone grain storage facilities with a total capacity exceeding 400,000 tons.

Through its recent acquisition of Pastificio Mediterranea — an established pasta producer in Italy with a strong heritage — Ulusoy Un has strengthened its global footprint and expanded its value-added product range, reinforcing its position as a diversified agri-food leader. Listed on Borsa İstanbul (BIST: ULUUN) since 2014, the company combines over five decades of expertise with a strong focus on innovation, operational excellence, and sustainability.

With new investments in renewable energy and value-added food production, Ulusoy Un is accelerating its transformation into a diversified global agri-food player while reinforcing Türkiye’s role as a strategic hub for food security and trade.