Around 95%[1] of companies and 99% of SMEs in Turkey are family-owned, forming the backbone of a national economy that surpassed $1 trillion[2] for the first time in 2023 and now ranks 19th globally. Turkey is also home to the second-largest population in Europe, with approximately 85 million people.
Istanbul is the country’s most populous city and, at 30.4%, the source of the highest share of Turkey’s GDP[3]. Straddling the boundary between Europe and Asia, the city benefits from its unique position as a global crossroads, powered by international trade and its role as a major regional air hub connecting travellers to capital cities across Europe, Western and Central Asia, the Middle East, and Africa within a four-hour flight.
Since the 1990s, Istanbul has emerged as a rising centre for knowledge-based businesses, home to 33 of the country’s fastest-growing industries. Together, these strengths make Turkey – and Istanbul in particular – a compelling landscape for family businesses seeking growth, innovation, and long-term opportunity.
[1] https://altinbas.edu.tr/en/research/application-and-research-centers/family-business-management-and-research-center-aydam.web
[2] https://asia.nikkei.com/Economy/Turkey-s-GDP-grew-past-1tn-for-the-first-time-in-2023
[3] https://data.tuik.gov.tr/Bulten/Index?p=Gross-Domestic-Product-by-Provinces-2022–45867&dil=2
Here are the 10 largest family businesses in Istanbul:
10. Erdemoğlu Holding
Owning/Controlling Family: Erdemoğlu
Annual Revenue: $2 billion
Erdemoğlu Holding is a leading global carpet manufacturer, exporting to nearly 100 countries with production facilities in eight locations in Turkey and Russia. Yet its story began modestly in 1970, when Mehmet Erdemoğlu purchased two carpet looms and founded his Merinos rug business. The company has since grown to become the world’s largest machine-made carpet manufacturer.
Erdmoğlu Holding acquired Dinarsu, Turkey’s largest wall-to-wall carpet producer, in 2005, followed by the leading carpet materials producer SASA in 2015. Today, Ibrahim Erdemoğlu serves as Chair of the company his father built, and he and his brother Ali are majority shareholders, guiding the next chapter of the family’s global enterprise.
9. Doğuş Group
Owning/Controlling Family: Şahenk
Annual Revenue: $3.4 billion
One of Turkey’s largest private-sector conglomerates, Doğuş Group has a portfolio of more than 300 companies operating in eight major industries, including automotive, construction, media, hospitality, real estate, and technology.
Ayhan Şahenk founded the business in 1951, initially as a construction firm. During the 1970s, the company expanded into banking and later entered the automotive, food, and hospitality sectors through strategic global partnerships with brands such as Volkswagen and Sheraton Hotels.
Today, Doğuş Otomotiv is Turkey’s leading automobile importer and one of the country’s largest automotive distributors. The Group’s hospitality arm, Doğuş Hospitality & Retail, now operates over 285 locations in more than 55 cities across 24 countries.
Leadership remains in the family. Ayhan’s son, Ferit Şahenk, serves as Chair, while his sister, Filiz Sahenk, manages the Group’s fashion and tourism segments, representing luxury brands in Turkey including Gucci, Emporio Armani, and Loro Piana.
8. Kazancı Holding
Owning/Controlling Family: Kazanci
Annual Revenue: $3.6 billion
Founded in the 1950s by Ali Metin Kazancı, Kazancı Holding has grown into one of the leading groups in Turkey’s energy sector. In 1968, the firm opened its Watt Electric Motor Factory, then began manufacturing generators during the 1980s. In the 1990s, the Group engaged in power plant construction and electricity generation, later launching its natural gas distribution segment during the early 2000s and entering the tourism sector in 2005 with the Mirada Hotels & Resorts brand.
Kazancı Holding began electricity distribution and sales in 2010, and has since evolved into a global operator. Today, it operates production facilities across four continents, with activities in 22 countries and sales to 178 countries around the world through its seven companies: Aksa Energy, Aksa Natural Gas, Aksa Electricity, Aksa Power Generation, Aksa Charge, Aksa Agriculture, and Aksa Tourism. Cemil Kazancı, son of founder Ali Metin Kazancı, serves as CEO and Chair of Kazancı Holding, in addition to holding the same roles at Aksa Energy.
7. Ronesans Holding
Owning/Controlling Family: Ilicak
Annual Revenue: $3.6 billion
Founded as Ronesans Construction in 1993, Erman Ilıcak expanded his business into real estate development in 2001 and the energy sector in 2007 with the launch of renewables-focused Ronesans Energy. The company’s first project, the Yalnizca Hydroelectric power plant, began operations in 2009.
As the company grew to become Turkey’s leading contractor and one of Europe’s top construction firms, Ronesans continued to expand its activities, establishing Ronesans Health Investment Corporation in 2012 and extending its international presence.
Today, Ronesans Holding operates in 30 countries and has completed notable projects including the world’s largest building with earthquake isolators, the world’s largest gas-to-gasoline facility, and Switzerland’s Gotthard Base Tunnel, the world’s longest railway tunnel at a length of 57 kilometres.
Erman Ilıcak now serves as Honorary President of Ronesans Holding, having passed the position of Board Chair to his sister, Ipek Ilıcak Kayaalp, in 2014.
6. Borusan Holding
Owning/Controlling Family: Kocabıyık
Annual Revenue: $4 billion
With activities in six main sectors, representing 19 brands across 10 companies, Borusan Holding is one of Turkey’s largest industrial groups. It traces its roots back to 1944, when Asım Kocabıyık founded its first company, Istikbal Ticaret, to trade iron, steel, and export agricultural products. The establishment of Borusan Boru, the pipe producer, in 1958 marked the Group’s first foray into industrial manufacturing. Engine valve producer Suspan was established by Borusan in 1970, and its holding company was created in 1972.
Today, Borusan Holding’s companies operate across the manufacturing, machinery and power systems, automotive, logistics, energy, and corporate venture capital sectors, with a presence in 12 countries across three continents. Asım Kocabıyık’s son, Ahmet Kocabıyık, currently serves as the firm’s Chair and Executive Director, while sisters Zeynep Hamedi and Nükhet Özmen hold Vice Chair roles.
5. Zorlu Holding
Owning/Controlling Family: Zorlu
Annual Revenue: $5 billion
Starting with just two weaving looms in 1953, Mehmet Zorlu laid the foundations for what would become Europe’s largest producer of integrated polyester yarn and cotton home textiles. The Group’s first company, Korteks, established in 1989, pioneered miro-thread technology and has since grown into the Middle East and Europe’s largest polyester yarn producer, with exports to more than 50 countries. Today, Korteks-branded yarns account for 55% of Turkey’s total polyester yarn production.
Zorlu Holding’s TAÇ brand reaches millions of customers through 800 stores and sales points in Turkey, and more than 850 international locations, offering products ranging from curtains and towels to blankets and licensed items. Beyond textiles, Zorlu Holding also operates travel, hospitality, construction, petroleum, mining, energy, food, and financial services. Ahmet Nazif Zorlu currently Chairs the board of the firm his father founded, while brother Zeki Zorlu serves as its Honorary Chair.
4. Yıldız Holding
Owning/Controlling Family: Ülker
Annual Revenue: $5.3 billion
Operating 46 food production facilities across 12 countries and managing over 300 brands,Yıldız Holding is the CEEMEA region’s (Central & Eastern Europe, Middle East and Africa) leading food retailer. Brothers Sabri and Asım Ülker began the business in 1944, selling their version of shortbread biscuits from a small shop in Istanbul. Four years later, in 1948, the Ülkers opened their first biscuit factory.
During the 1970s, the company expanded internationally and launched its chocolate and flour product lines. The family’s group of companies consolidated as Yıldız Holding in 1989, adding oil, cake, and dairy segments during the 1990s.
Today, Yıldız Holding exports its products to more than 100 countries. The Group’s snack company subsidiary, Pladis, ranks as the second-largest biscuits business and seventh-largest chocolate business globally and includes brands GODIVA, Ülker, United Biscuits and DeMet’s. Ali and his brother, Murat Ülker, lead the firm that their father, Sabri Ülker, co-founded.
3. Hacı Ömer Sabancı Holding (Sabancı Group)
Owning/Controlling Family: Sabancı
Annual Revenue: $7 billion
Hacı Ömer Sabancı founded the business in 1925 as a cotton company, then expanded the firm’s activities over the following decades, entering vegetable oil, gin, flour, and textile production. Today, the Sabancı Group is one of Turkey’s leading holding companies, with activities in sectors including banking, financial services, energy and climate technologies, industry, building materials, and digital products.
The Group’s Akbank subsidiary is one of Turkey’s largest financial institutions, serving nearly 11 million customers through 711 branches. Meanwhile, Sabancı’s Brisa division is one of Europe’s largest tyre producers. Third-generation family member Güler Sabancı currently heads the Sabancı Group as its Chair.
2. Anadolu Grubu Holding
Owning/Controlling Family: Özilhan / Yazıcı
Annual Revenue: $12 billion
Anadolu Grubu Holding is a diversified powerhouse, operating across seven sectors: beer, soft drinks, retail, agriculture, automotive, stationery, and energy. The Group was founded in 1950 by Kamil Yazıcı and İzzet Özilhan in a small grocery store.
Today, the Anadolu Group’s beer segment, Anadolu Efes, is the fifth-largest producer in Europe, with 21 breweries and a presence in over 70 countries. Anadolu’s soft drink division, Coca-Cola Içecek, is a key Coca-Cola bottler with 30 plants in 11 countries. Meanwhile, the company’s retail arm, Migros, sells the most fruits and vegetables in Turkey and operates over 3,200 stores across the country.
Izzet Özilhan’s son, Tuncay Özilhan, currently leads the Group as its Chair, while Kamil Yazici, namesake of grandfather and company co-founder, serves the Anadolu Group as its Vice Chair.
1. Koç Holding
Owning/Controlling Family: Koc
Annual Revenue: $61 billion
Turkey’s first and largest conglomerate, Koç Holding, was founded by Vehbi Koç in 1926. Just two years later, in 1928, Vehbi partnered with the Ford Motor Company, opening several local dealerships, as well as becoming an agent of Standard Oil. In 1944, Vehbi secured international manufacturing business from both General Electric and US Rubber, and began extensive investment in domestic production companies. The Group’s manufacturing business grew significantly during the 1960s, producing products that ranged from agricultural tools, textiles, and office supplies to heating equipment, automobile parts, and household appliances.
Today, Koç Holding’s main sectors include energy, finance, consumer durables, and automotive. The Group operates over 60 international production facilities and marketing companies across more than 145 countries and accounts for approximately 7% of Turkey’s total exports. Rahmi Koç serves as Honorary President of the firm his father founded, while his son, Ömer M. Koç, Chairs Koç Holding’s board.
