Saudi's Hassana acquires 40% stake in Berain Water Company
Saudi Arabia - Hassana Investment Company has completed the acquisition of a 40% stake in Berain Water Company (Berain), a leading bottled water company in Saudi Arabia, from Mohammed Abdulaziz Al-Rajhi & Sons Investment Company (Rajhi-Invest).
The strategic transaction marks the beginning of a long-term partnership between Rajhi-Invest and Hassana.
Berain is a key player in the bottled water sector in Saudi Arabia, offering its products under a well-established multi-brand portfolio. The company has a fully integrated business model, strategically positioned to leverage its robust manufacturing capabilities, efficient procurement processes, and an extensive logistics and distribution network.
With three state-of-the-art factories located in Riyadh and Jeddah, along with 24 storage and warehousing facilities across various cities in Saudi Arabia, Berain is well-equipped to meet the growing demand for its products across Saudi Arabia.
Ahmed W Alqahtani, CIO of Regional Markets at Hassana, said: "This transaction is aligned with Hassana's long-term investment strategy to acquire well-performing businesses in the consumer sector with a stable and attractive cashflow profile underpinned by strong market fundamentals."
He added: "We are pleased to partner with Rajhi-Invest and we look forward to building a long-term partnership based on mutual benefit."
Mohamed A El Samman, Group CEO at Rajhi Invest, said: "This strategic partnership with Hassana is a testimony of Rajhi-Invest capability of building successful industrial players and a decisive step towards realizing our vision for Berain. We are looking forward to this partnership and anticipate a powerful synergy that will drive transformative growth for Berain across the Saudi FMCG landscape." - TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tourism Breaking News
13 hours ago
- Tourism Breaking News
China extends visa-free entry to four GCC countries
Post Views: 35 China has launched a trial policy granting unilateral visa-free entry to citizens of Saudi Arabia, Oman, Kuwait, and Bahrain, expanding its visa-free access list to 47 countries, as per the recent report. Effective until June 8, 2026, the policy allows ordinary passport holders from these four Gulf Cooperation Council (GCC) countries to enter China visa-free for up to 30 days for business, tourism, family visits, cultural exchange, and transit. The policy has been warmly received across the Gulf region and is expected to enhance bilateral exchanges, strengthen cultural and people-to-people ties, and drive broader cooperation between China and the GCC. Currently, around 20 direct flights operate weekly between key Chinese cities—including Beijing, Shanghai, Guangzhou, and Shenzhen—and Saudi cities like Riyadh and Jeddah. The UAE is connected to 13 cities across mainland China through direct flights. This expansion marks a significant step in building economic and cultural relations between China and the Gulf states.
Al Etihad
15 hours ago
- Al Etihad
Visa-free access extended to 4 more Gulf countries by China
10 June 2025 15:26 BEIJING (Xinhua)China this week launched a trial policy that grants unilateral visa-free entry to citizens of Saudi Arabia, Oman, Kuwait, and Bahrain, expanding its unilateral visa-free access list to 47 the policy, which will remain in effect through June 8, 2026, holders of ordinary passports from these four countries can enter China without a visa for up to 30 days for purposes such as business, tourism, family visits, cultural exchange, and the United Arab Emirates and Qatar have established reciprocal visa-free arrangements with China since 2018, which means all six member states of the Gulf Cooperation Council (GCC) now enjoy visa-free access to expansion has been warmly welcomed across the Gulf region and is expected to boost bilateral exchanges, strengthen cultural and people-to-people ties, and inject new momentum into broader China-GCC a statement posted on platform X following China's announcement in late May, the Saudi Ministry of Foreign Affairs said the move would "contribute to encouraging mutual visits and deepening the bonds of friendship between the two friendly peoples."Naif Awlia, director of tourism and engagement at Saudi tourism developer Diriyah Company, also hailed the policy as a positive step forward. "Friendly ties are the foundation of long-term cooperation, and we look forward to deepening our partnership with China," he Travel, one of the largest travel companies in the Gulf region and an early mover in promoting outbound tourism to China, has launched new travel packages since the announcement, targeting residents of the UAE, Bahrain, and Saudi and Gulf countries already enjoy strong air travel connectivity, and the new visa-free policy is anticipated to further boost travel about 20 direct flights operate weekly between major Chinese cities -- including Beijing, Shanghai, Guangzhou, and Shenzhen -- and Saudi destinations such as Riyadh and Jeddah. The UAE is connected to 13 cities across the Chinese mainland with direct ahead, Chinese carrier Hainan Airlines plans to launch a direct Haikou-Jeddah route on June 28, while UAE carrier Emirates will begin daily nonstop service between Dubai and Shenzhen on July say the new policy reflects the growing political, economic, and cultural ties between China and the Gulf region. In 2024, trade between China and GCC countries reached $288.09 billion, making the GCC China's sixth-largest trading latest step underscores China's continued push to open its doors wider to global visitors, in line with its commitment to high-level late 2023, China has introduced a series of traveler-friendly policies. Starting June 1, holders of ordinary passports from Brazil, Argentina, Chile, Peru, and Uruguay are eligible for unilateral visa-free entry -- the first time such access has been extended to Latin American and Caribbean the visa-free transit period has been extended to 240 hours for travelers from 54 initiatives have already had a noticeable impact. In 2024, China recorded 3.39 million entries under its unilateral visa-free policy, a year-on-year surge of 1,200 percent. During the recent three-day Dragon Boat Festival holiday, 231,000 foreigners entered China without a visa, up 59.4 percent from a year earlier. Dai Bin, president of the China Tourism Academy, said foreign travelers come not only to visit China's landscapes and cities but also to experience everyday life. "These visits offer opportunities to discover the real China," he said.
Arabian Post
16 hours ago
- Arabian Post
Wipro Elevates Riyadh Role, Appoints Mousa to Lead ME Legacy
Arabian Post Staff -Dubai Wipro has officially transferred its Middle East regional headquarters from Al Khobar to a new, upgraded facility in Riyadh, signalling an intensified drive to anchor itself in the Kingdom's digital economy. Mohamed Mousa has been appointed Managing Director and Regional Head for the Middle East, steering Wipro's regional operations from the new Riyadh base. Vinay Firake, CEO for Asia Pacific, India, Middle East and Africa, described the move as a 'reaffirmation of commitment to supporting the dynamic business landscape in the Kingdom of Saudi Arabia.' He added that Mousa's leadership will 'further advance our decades-long presence in the Middle East.' ADVERTISEMENT The office, inaugurated during a high-profile ceremony attended by senior Wipro executives, staff, and clients, is part of an expanding regional footprint that already includes offices in Jeddah, Jubail, and Al Khobar. Mohammed AlRobayan, Deputy Minister for Technology at the Ministry of Communications and Information Technology, highlighted the Riyadh move as a pivotal moment for the Kingdom's digital ambitions, saying it 'accelerates the growth of the Kingdom's digital economy' and underlines Saudi Arabia's appeal as a tech destination. Furthering its strategic investment in Saudi human capital, Wipro signed a Memorandum of Understanding with Prince Mohammad Bin Fahd University to create a Centre of Excellence in Riyadh. This initiative targets hands‑on training in advanced technologies for Saudi nationals, promoting workforce readiness and helping bridge the gap between academic learning and industry demand. Financial analysts note that the relocation aligns with Saudi Vision 2030's objective to diversify the Kingdom's GDP beyond oil revenues, with global tech firms increasingly anchoring themselves in Riyadh. The new headquarters offers both symbolic and practical leverage: proximity to major government stakeholders, enhanced networking opportunities, and the ability to attract public–private partnerships focused on digital transformation. Experts acknowledge, however, that this strategy is not without challenges. Wipro must navigate intense competition from both global rivals and agile regional players, maintain cost competitiveness, and ensure the newly hired Saudi talent is integrated effectively into its global delivery model. A report by an independent business intelligence provider recently flagged uncertainties such as fluctuating revenue streams and the rigours of managing a complex international footprint. Mousa succeeds Dalveer Kaur, who transitioned to Wipro's global capability centre practice. Mousa's track record includes leadership roles in regional IT consulting and digital services, with a specific focus on scaling operations and aligning with government-led digital ecosystems. His appointment is a strategic fit for Wipro's goal of deepening ties with local institutions and sovereign-backed tech initiatives. The Riyadh office, equipped with advanced infrastructure, is expected to house regional delivery centres and client‑management teams specialising in cloud, AI, digital engineering, cybersecurity and consulting services. These capabilities align with Wipro's broader portfolio, which spans consulting, design, engineering and operations in both the public and private sectors. Looking ahead, Wipro is expected to pursue further partnerships with Saudi universities and training institutions, potentially expanding the Centre of Excellence model to other al‑Majlis campuses. The company will also likely collaborate with government-backed innovation hubs and sovereign wealth funds eager to foster digital lanes within finance, healthcare, logistics, and energy sectors. While Wipro optimises its capacity to support client transformation in the region, industry observers will monitor its ability to sustain growth amid macroeconomic volatility, emergent technologies and evolving client expectations. With Mousa at the frontline, the company aims to leverage its regional assets, integrated innovation initiatives and talent development programmes to embed deeper into the Kingdom's digital ecosystem. Amid global tensions and shifting supply‑chain dynamics, Wipro is banking on its regional pivot and local leadership to consolidate both government and enterprise relationships. Riyadh is increasingly viewed not only as a political capital but also as a digital-tech hub. Wipro's investments in infrastructure, talent and strategic partnerships reflect that shift, aiming to position the firm at the centre of the Kingdom's transformation agenda.
