Riyadh / SA. (ac) Almarai Company is pleased to announce that on 04 February, 2019, the Company has signed a Sale Purchase Agreement with Alamar Foods CJSC to acquire 100 percent Shares in Premier Foods LLC for an Enterprise Value of SAR 108.0 million. Premier Foods is engaged in providing value added products (meat and poultry) to the food services industry in the Middle East. This acquisition will further enhance Almarai’s footprint for expansion in the foodservice channel. This transaction is fully financed from Almarai’s operating cash flow, and the financial impact of this acquisition will be reflected in next Quarter’s results. Almarai also wants to highlight that there are no related parties in the acquisition.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company
- National DCP: Breaks Ground on New Distribution Center