Al Ain Farms to acquire producer of ‘Golden Eggs' in Dh285 million deal
15 Mar 2025 11:19
A.SREENIVASA REDDY (ABU DHABI)Al Ain Farms, which is a subsidiary of Ghitha Holdings, has signed a deal to acquire full ownership of Al Jazira Poultry Farm for Dh285 million. Falal Ameen, Group CEO of Ghitha Holdings, in a stock market disclosure, said a share purchases agreement was signed to this effect. 'The completion of the transaction is subject to the satisfaction of certain conditions under the agreement and receipt of regulatory approvals,' he said. Al Ain Farms, which was established in 1981 by the UAE's Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, holds the distinction of being the first dairy company in the UAE. 'With a rich history spanning over four decades, Al Ain Farms continues to set benchmarks in the food industry, offering a diverse range of fresh, nutritious and high-quality products,' notes a description of the company on Ghitha Holdings' website. Al Jazira Poultry Farm, an egg production facility founded in Dubai in 1999, has grown to become the largest egg producer in the UAE.Al Jazira Poultry Farm's eggs, dubbed Golden Eggs, are renowned for their rich golden-yellow yolks. 'It was also the first poultry company in the region to produce value-added eggs, including DHA, Omega 3, super eggs, and Lutein-enriched eggs, as well as eggs from hens that are fed certified organic feed,' a promotional media report on the company said recently. The latest acquisition by the Al Ain Farms is expected to cement its position as the leader in the poultry sector.
Ghitha Holdings, which is part of the International Holding Company (IHC), focuses on sectors related to food production, processing and distribution. It is listed on Abu Dhabi Securities Exchange (ADX) and is valued at Dh4.387 billion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
17 hours ago
- Al Etihad
UAE stock markets consolidate ahead of 4-day Eid-break
4 June 2025 22:07 A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets consolidated gains on Wednesday ahead of the upcoming four-day Eid Al Adha Abu Dhabi Securities Exchange (ADX) recorded its second consecutive session of gains, with its general index (FADGI) rising by 0.449% to close at 9,734.99. A total of 25,971 trades were executed, involving 373 million shares with a combined value of Dh1.443 total market capitalisation of all companies listed on the ADX stood at Dh3.003 trillion, a milestone it had crossed earlier this week for the second Dhabi Islamic Bank led the rally with a 2.43% gain, followed by First Abu Dhabi Bank with a 2.13% rise and ADNOC Gas with a 0.92% top gainers on the ADX included E7W Warrants (+14.92%), Fujairah Cement (+14.88%), and Abu Dhabi Ship Building (+13.47%). Notable decliners were National Bank of Fujairah (-9.52%), Eshraq Investments (-4.42%), and Finance House (-4.35%).Shares of Abu Dhabi Ship Building surged after it secured a Dh7 billion contract from its shareholder EDGE Group for the supply of missile boats to the Kuwait Naval Forces. DFMThe Dubai Financial Market's general index (DFMGI) rose by 0.255% to close at 5,535.93 points. The index has posted annual gains every year since 2021, climbing 27% last year and up 7% so far in 2025. A total of 18,583 trades were executed on the DFM, involving 389 million shares with a combined value of Dh930 million. Share prices of 20 companies rose, 24 declined, and 10 remained the top gainers were Amlak Finance (+14.58%), Dubai Refreshment (+13.07%), and Dubai Financial Market (+5.96). On the losing side, Al Mazaya Holding fell by 7.14%, followed by National Cement (-2.70%), Emaar Development (-2.62%), and Tabreed (-2.53%). Amlak Finance drove the day's performance on the DFM, emerging as the most actively traded stock in terms of both value and volume. Source: Aletihad - Abu Dhabi
Al Etihad
a day ago
- Al Etihad
UAE's non-oil economy firmly in expansion mode as May PMI stands at 53.3
4 June 2025 09:32 REDDY (ABU DHABI)The UAE's non-oil private sector remained in solid expansion mode in May, with the seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) registering 53.3, slightly lower than 54.0 in April but well above the neutral 50.0 mark that separates growth from is a key economic indicator measuring business activity in the manufacturing and services sectors. A reading above 50 signals expansion, while below 50 indicates contraction.'Data continued to signal a solid improvement in the performance of the non-oil private sector economy. Demand conditions remained strong, supporting a marked increase in output, although the rate of growth trended down from its recent bullish run,' the S&P Global report reported a continued rise in new orders in May. While the pace of growth eased from the previous month, it remained robust. This upturn was attributed to favourable demand conditions, strong client relationships, new marketing strategies, and diverse product offerings.'From an overall perspective, the survey signals that the UAE economy is performing well. The survey data backs up the trend of falling inflationary pressures, as businesses saw input costs rise at their slowest rate since the end of 2023,' said David Owen, Senior Economist at S&P Global Market report said that companies increased their output and the expansion was sharp. According to survey members, higher sales often translated into greater activity, although some reported that global economic uncertainty linked to US tariffs had negatively affected levels dropped in May, as businesses scaled back purchasing due to strong stock levels and supply constraints. Employment growth, meanwhile, hit its highest level in a year, with firms citing increased workloads and rising backlogs of cost inflation eased to its slowest pace in nearly 18 months. While some firms saw higher raw material and transport costs, only 5% of respondents reported an increase from prices rose marginally, reflecting modest efforts to pass on cost increases, partially offset by discounts. Dubai PMI Dubai's PMI stood at 52.9 in May, reflecting a solid improvement in operating conditions in the non-oil private sector.'Businesses continued to receive higher levels of new orders, with the rate of growth ticking up to a four-month high,' the report said, attributing the trend to improved client confidence, marketing strategies, and competitive pricing. While overall business activity rose sharply, the pace of growth softened. Purchase stocks declined for the first time in 2025, contributing to the weakest rate of input cost inflation in 17 months.
Gulf Business
a day ago
- Gulf Business
The making of a ‘National Champion': How Al Ain Farms Group is nurturing the UAE's food future
Image: Supplied Al Ain Farms began not as a commercial venture, but as a visionary response to a national need. In 1981, with just 200 cows, the late Sheikh Zayed bin Sultan Al Nahyan — the UAE's Founding Father — planted the seeds of what would become the country's modern food security movement. Sheikh Zayed's vision was clear: to build a homegrown source of 'nourishment' for the people of the UAE, ensuring access to fresh, local food and dairy in a land where little grew naturally. What started as a small dairy farm has since evolved into a symbol of resilience, innovation, and national pride. Going beyond just milk production, Al Ain Farms now a diverse food group that encompasses poultry, juices, eggs, and even camel farming, delivering sustainable, healthy, and affordable food to everyone in the UAE. A total of five farms, including three large dairy farms that are home to over 20,000 heads of cattle and 1,000 camels, are part of this complete food production powerhouse, handling everything from farming to manufacturing and distribution. Its driving force: An efficient system that gets products from farm to shelf within 24 hours, ensuring they're incredibly fresh. In fact, the company has never missed a day of delivery not even during Covid. Last month, As Hassan Safi, the group CEO of AAFG, notes, their mission 'has evolved into a larger vision', with the goal to to become the top producer of high-quality protein and drinks in the region. 'This is the start of something new,' Safi adds. 'It blends great operations, brand trust, and decades of know-how to deliver high-quality, affordable food to every home in the country.' Safi explains why now was the right time for this big step: 'After Covid, food security became a top national focus. This merging helps us meet that goal by making more food, sourcing more locally, and running things more smoothly. It also makes us stronger in supporting local farmers — through long-term commitments and technical assistance. 'We're also pushing for sustainability and cutting down on food waste throughout our whole system.' Signing ceremony marking the launch of AAFG at Make it in the Emirates 2025. Image: Supplied Al Ain Farms Group: Strong backing in place This bold plan is strongly supported by Ghitha Holding and Yas Holding — two powerful investment groups from the UAE, both deeply committed to farming independence and industry breakthroughs. Their involvement injects critical capital strength and operational acumen, strategically aligning AAFG's path with the UAE's big National Food Security Strategy for 2051. The move signals long-term confidence in local food systems, transforming the group into a national platform equipped to meet rising demand across the UAE and the wider region. It also reflects the UAE's ambition to lead the region in quality, sustainability, and innovation, building integrated, future-ready platforms. Smarter systems, sustainable practices AAFG is also rethinking how food is made and moved — with AI as the game-changer. From smarter product R&D to dynamic store stocking, the group is investing heavily in tech that keeps shelves filled without overloading them. 'We're using AI to improve everything — from understanding microbiotic data for better recipes, to predicting exactly what each store needs each day,' says Safi. 'It's helping us cut waste, speed up innovation, and build a food system that's actually built for the future.' This smart approach goes hand-in-hand with sustainability. Whether it's turning cow manure into nutrient-rich soil with help from Australian partners, recycling water on-site, or switching to in-house recycled PET packaging, AAFG is actively closing the loop. Even its convenience foods — like microwave-ready, cook-in-the-bag chicken — come with sustainability in mind. Every day, AAFG supplies 22,000 outlets around the country. 'The challenge is simple: the right product, in the right amount, at the right time. That's where AI really shines,' Safi says. 'Less guesswork means less waste.' While the company has already rolled out organic dairy products, going fully organic will take time. 'Right now, we're focused on making food secure, accessible, and healthy — for everyone,' he adds. The next chapter AAFG has mapped out a bold five-year plan to scale up production, drive innovation, and deepen its sustainability agenda. At the core of this strategy are three key pillars: Scale: AAFG aims to become the GCC's largest table egg producer, targeting an output of 800 million eggs annually. Product innovation : The group is expanding into long shelf-life goods, value-added products, and exploring alternative proteins to meet shifting consumer demand. Regional growth : Strategic partnerships and investments are underway to grow AAFG's footprint across the region and build export-ready capabilities. While rooted in national food security priorities, AAFG is also shaping a model for regional collaboration in agri-food manufacturing. 'As the UAE doubles down on food independence,' says Safi, 'we see ourselves as a blueprint — advancing AAFG stands as one of the UAE's clearest examples of how food security, innovation, and economic ambition can converge into a scalable model.
