'National Capital' is losing blood in the Turkish economy: Giant brands are being transferred to foreigners
Turkey's deep-rooted industrial establishments and strategically important brands are changing hands one by one. From pharmaceuticals to cleaning paper, and from energy to retail, share sales and store closure decisions by giant groups reveal the pressure of the economic climate on domestic capital.
12punto
The consecutive news of sales and downsizing in the first quarter of 2026 signals a new era in the Turkish business world. The transfer of half-century-old domestic manufacturers to foreign funds and the decision of giant holdings to sell shares to strengthen their cash positions are interpreted in the markets as "the withdrawal of national capital from strategic areas."
CRITICAL LOSS IN THE PHARMACEUTICAL SECTOR: SANOVEL IS NOW BRITISH-OWNED
Founded in 1983 and one of Turkey's largest pharmaceutical manufacturers, Sanovel has been transferred to the UK-based Afendis Capital Management. Although the sales process remained in the shadow of internal family disputes, the statement by former partner Zafer Toksöz that "a half-century-old value has been lost to foreigners" triggered concerns about the future of the domestic pharmaceutical industry. The transfer of production power in a strategic sector like pharmaceuticals to foreign capital control has also brought about discussions on long-term drug supply security.
CLEANING PAPER GIANTS SELPAK AND SOLO ARE HEADING TO MALAYSIA
Eczacıbaşı Holding has agreed to sell Sanipak, which houses Turkey's most well-known brands Selpak and Solo, to the Malaysia-based Arch Peninsula for 600 million dollars. The sale of these deep-rooted brands, acquired by a subsidiary of the RGE Group owned by Indonesian billionaire Sukanto Tanoto, shows that the market share of domestic players in the consumer goods market is shrinking.
STRATEGIC MOVES AT KOÇ GROUP: TÜPRAŞ SALE AND KOÇTAŞ CLOSURES
Koç Holding, Turkey's largest industrial conglomerate, has also taken significant decisions as part of its portfolio optimization:
Tüpraş Share Sale: The holding decided to sell approximately 30 million Tüpraş shares to institutional investors through an accelerated book-building method. This move is defined as the group's liquidity strategy and is being closely followed in the markets.
Contraction in Retail: Koçtaş, the leader of the home improvement market sector, closed 5 of its stores in İzmir alone in the first three months of this year. The decline in the number of stores to 15 proves that high costs and decreasing purchasing power are forcing even retail giants to downsize.
ECONOMY JOURNALIST BORA ERDİN: "NATIONAL CAPITAL IS WITHDRAWING FROM STRATEGIC AREAS"
Economy journalist Bora Erdin attributes the fact that domestic capital groups are selling their strategic assets or downsizing to manage cash flow to the increase in sustainable production costs. He warns that the loss of national capital, especially in areas requiring high technology and independence such as pharmaceuticals, could increase dependence on imports in the future.