Riyadh / SA. (ac) Almarai Company announces the signing of an agreement for the acquisition of 100 percent of the shares of Hammoudeh Food Industries by one of its subsidiaries (Teeba Investment for Developed Food Processing Company), for a total consideration of SAR 263 million «subject to certain adjustments». Hammoudeh Food Industries is a well-established dairy and cheese business, with a long heritage of over 50 years in the Jordanian market.
This acquisition strengthens Almarai’s position in Jordan and aligns with the company’s broader growth strategy announced earlier this year to maintain sustainable growth in core markets and geographies. By acquiring Hammoudeh Food Industries, Almarai will enhance its ability to better serve customers in the region, expand its operations and product range, and leverage operational scale in Jordan to drive both sales growth and profitability.
The transaction will be financed by Almarai’s internal cash flows. The acquisition remains subject to satisfying certain contractual conditions and to obtaining certain regulatory approvals in the Kingdom of Saudi Arabia and the Hashemite Kingdom of Jordan. There are no related parties in this transaction.
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