EBRD, Actera, two private equity firms, and Esas, a venture capital firm, completed the acquisition of a majority stake in Korozo Ambalaj, a Turkish producer of flexible packaging, for $348m. “Korozo is a great example of an ambitious Turkish firm which has started as a family business and grown into a truly international player. We are proud to become shareholders and support the company in its next phase of development as it seeks to become one of Europe’s leading producers of flexible packaging. It is this spirit of entrepreneurship, fuelled by skills and ambition, that is the driving force of the Turkish economy,” Jean Marc Peterschmitt, EBRD Managing Director for Industry, Commerce and Agribusiness.