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).
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