U.K.-Based Bancroft Buys 75 Percent Graniser Stake for US$75 Million (CEE and CIS)

Source: Today’s Zaman

London-based Bancroft Private Equity has acquired 75 percent of Turkish ceramic tiles and granite producer Graniser for US$75 million. Graniser is the fourth investment made in Turkey by the Bancroft Group, which focuses on private equity fund management in Eastern Europe. Graniser plans to invest US$500 million over the next three years to support growth in Middle Eastern and European markets.