Yıldız Holding

🚨 Reasons for Boycotting Yıldız Holding

Yıldız Holding is one of Turkey's largest conglomerates, owning iconic brands such as Ülker, Godiva, Cafe Crown, Bizim Mutfak, and Şok Marketler. While the company does not sell weapons directly, it is deeply embedded in the israeli economy through the export of Godiva products manufactured in its Silivri factories to israil, the official Godiva israel social media account, and the stance of its owner Murat Ülker, who shows indifference to the global boycott movement.

1. Export of Godiva Chocolate Produced in Silivri to israil: Yıldız Holding produces Godiva - the famous Belgian chocolate brand - in its factories in Silivri, Istanbul, and exports them to israil. According to documented reports, these products are sold in the israeli market under the slogan "Belgium 1926" and are certified Kosher by the israeli Rabbinate. Consequently, profits from Godiva sales in israil flow directly into Yıldız Holding's coffers, supporting its commercial expansion in the region.Gıda Dedektifi: Yıldız Holding continues to defend Godiva israel post (June 2024)Yeni Ankara: Cafe Crown boykot mu ediliyor? (October 2025)SnackFood.Delivery: Godiva Sea Salt Dark Chocolate, From israel, Kosher Certified
2. Official Godiva israel Social Media Account (November 2023): On November 28, 2023 - during the israeli assault on Gaza - the official Godiva israel social media account published Hebrew-language content showing a glass of wine and Godiva chocolate, with the caption: "This period reminds us how important it is to appreciate the little things. Feel good with a glass of wine from Godiva and quality chocolate." This post sparked widespread backlash, described as "morale support" for israil at a time when Gaza was under brutal bombardment. Although the post was later removed, Yıldız Holding sought to prosecute those who criticized it, while its lawyers acknowledged in court the existence of "commercial relations" with israil.Gıda Dedektifi: Yıldız Holding's appeal rejected, acquittal upheld (February 2025)Gıda Dedektifi: Yıldız Holding continues to defend Godiva israel post (June 2024)
3. Murat Ülker's Dismissive Stance Toward the Boycott: Murat Ülker, Chairman of pladis and GODIVA and a board member of Yıldız Holding, has made public statements downplaying the global boycott movement. In an article titled "Boykot ama kimi ve nasıl?" (Boycott but whom and how?) published in August 2025, he questioned the effectiveness of boycotts, describing them as "temporary and ineffective." He also admitted to having had "commercial contacts" with Starbucks, a brand on global boycott lists. Additionally, in August 2025, Ülker was protested by students at a TÜGVA summer camp for "collaborating with israil," reflecting growing public outrage at his stance.Yeni Şafak: Murat Ülker wrote: Boycott but whom and how? (August 2025)Evrensel: Palestine protest against Ülker at TÜGVA camp (August 2025)T24: Murat Ülker protested at TÜGVA event (August 2025)
4. Primary Institutional Shareholders: Vanguard and BlackRock - Largest Investors in israeli Weaponry: According to shareholder data for Ülker Bisküvi Sanayi A.Ş. - Yıldız Holding's publicly listed subsidiary - the largest institutional shareholders after Yıldız Holding (47.23%) are Vanguard Capital Management, LLC (2.43%) and BlackRock, Inc. (1.24%). Both firms are explicitly named in an official United Nations report (OHCHR) by Special Rapporteur Francesca Albanese, identified as being "among the largest investors in arms companies pivotal to the genocidal arsenal of israel." Specifically: BlackRock is the second largest institutional investor in Palantir and third largest in Lockheed Martin and Caterpillar; Vanguard is the largest institutional investor in Caterpillar and second largest in Lockheed Martin and Elbit Systems. Consequently, the profits Yıldız Holding generates from its global markets flow partly to these two funds, which channel billions of dollars into the weapons industry used by israil in its genocidal war on Gaza.Investing.com: Ulker Biskuvi Sanayi AS (ULKER) Ownership — Vanguard 2.43%, BlackRock 1.24%ADVFN: Ulker Biskuvi Sanayi AS (UELKY) Ownership Distribution — Vanguard 1.75%, BlackRock 1.36%UN OHCHR: Report of the Special Rapporteur Francesca Albanese (2025)
5. Stark Double Standards in Crisis Response: Although Yıldız Holding has taken clear public stances on issues such as the Ukraine war, it has issued no statement condemning the genocide in Gaza. Instead, its owner chose to align with a position that downplays the boycott, calling it "ineffective," while his companies continued trading with israil. This stark contradiction exposes the company's claims of social responsibility and demonstrates that its ethical standards are selective.Yeni Şafak: Murat Ülker wrote: Boycott but whom and how? (August 2025)

🌐 Sources

Official and verifiable sources detailing Yıldız Holding's and its shareholders' involvement with israil:

• Gıda Dedektifi: Yıldız Holding continues to defend Godiva israel post (June 2024)
• Gıda Dedektifi: Yıldız Holding's appeal rejected, acquittal upheld (February 2025)
• Yeni Şafak: Murat Ülker wrote: Boycott but whom and how? (August 2025)
• Evrensel: Palestine protest against Ülker at TÜGVA camp (August 2025)
• Investing.com: Ulker Biskuvi Ownership — Vanguard 2.43%, BlackRock 1.24%
• ADVFN: Ulker Biskuvi (UELKY) Ownership Distribution — Vanguard 1.75%, BlackRock 1.36%
• UN OHCHR: Report of the Special Rapporteur Francesca Albanese (2025)
• SnackFood.Delivery: Godiva products from israel, Kosher certified

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