Almarai to buy bottled-water producer Pure Beverages
In a stock-exchange filing yesterday (15 June), Almarai said the deal is in line with its 'growth strategy to expand its beverage portfolio and enhance its consumer offerings'.
Almarai, which sells dairy and juice products under its namesake brand, added it is 'confident that this acquisition will create value for its shareholders'.
Headquartered in Riyadh, Pure Beverages Industry Company owns the Ival and Oska brands, with factories in Riyadh, Jeddah and Dammam.
According to its website, Pure Beverages Industry Company was set up by Saudi conglomerate Ajlan & Bros. Group in 1979.
Almarai plans to finance the acquisition through its internal cash flows, with the completion of the transaction subject to contractual conditions and regulatory approvals in Saudi Arabia.
The deal follows Almarai's recent unsuccessful attempt earlier this year to acquire Jordan-based Hammoudeh Food Industries.
In March, Almarai said the deal could not proceed 'due to factors beyond the company's control, as the seller was unable to meet certain conditions required to complete the transaction'.
Almarai added it is 'open to exploring future expansion opportunities, recognising the strategic importance of strengthening regional operations and expanding geographically to serve consumers in various markets'.
The group operates in dairy, poultry, bakery, infant-nutrition, and juice sectors.
In 2024, Almarai generated revenue of SR20.98bn, up from SR19.58bn in 2023. Operating profit stood at just under SR3bn, versus SR2.69bn a year earlier. Net profit was SR2.31bn, against SR2.05 the year previous.
According to GlobalData, Just Drinks' parent, the size of Saudi Arabia's packaged water market in volume terms was 3.88bn litres last year. The data and analytics group forecasts growth of 3.9% this year to 4.03bn litres.
In March, Berain Water, another Saudi bottled-water business, attracted a new investor. Hassana Investment Company acquired a 40% stake in Berain from Rajhi-Invest.
Berain has three production plants in Jeddah and Riyadh, and markets bottled water in multiple size options.
"Almarai to buy bottled-water producer Pure Beverages" was originally created and published by Just Drinks, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Chicago Tribune
4 minutes ago
- Chicago Tribune
Tariffs are driving up the cost of saying ‘I do'
As engaged couples plan their dream weddings this summer, an unforeseen economic force is increasingly impacting their decisions and budgets: the intricate and fluctuating world of global trade. President Donald Trump's tariffs — and the accompanying rate changes, moratoriums and trade deals — are translating into higher costs for traditional wedding components, from floral arrangements to designer gowns and even the celebratory spirits that toast a new union. Small business owners like Brandi Kenison at Lee Floral Design, a small Livonia, Michigan-based floral company that mostly supplies arrangements for luxury weddings, say this year's peak nuptials season has been more financially challenging than the COVID-19 pandemic, when curbs on indoor gatherings crippled many businesses. 'Obviously, during COVID, that made sense. (Now) it's very hard to put into words,' Kenison said. 'Will it (a new tariff) go through? How much will it go through? … It's really difficult for us to be transparent with our clients because we truly don't know. 'What's even harder is when prices on our end jump 25%, but we're contractually only able to raise the price by 10%. That means we absorb the difference, which quickly eats into our margins,' she said. 'It's definitely been a struggle.' According to the U.S. Department of Agriculture, 80% of all cut flowers sold in the United States are imported, with the primary sources being South American countries, notably Colombia and Ecuador. With current tariffs of 10% on Colombia and 15% on Ecuador, wholesalers, florists and ultimately, engaged couples face higher costs. 'When tariffs are placed on these imports, it inevitably drives up costs — not just for wholesalers and florists, but ultimately for the customer as well,' Kenison said. 'And it's not limited to just flowers. A lot of our day-to-day supplies, like vases, candles, and other staples, are sourced from countries like China, which means those items are also affected by tariffs, further increasing our overall expenses.' Wedding planners say brides are also experiencing higher prices for dresses and facing shipping delays. Meagan McPhail, owner of Mitten Weddings, said in an email that 'prices are up and timelines are longer' for dresses due to rising fabric costs. About 12.2 million wedding gowns are produced each year in China, and 70% of them are exported, according to Deep Wear. 'Even some U.S. designers still source their fabrics internationally, so it all adds up,' McPhail said. Tariffs are adding to already pricey wedding costs that average $300 to $600 per person, according to wedding planners Emma and Rebecca Targett of Meriwether Social. The Ann Arbor, Michigan-based mother-daughter duo planned Sophie Partington and Nicholas Kuchar's Aug. 2 wedding at the Michigan League Ballroom. 'Now, more than ever, that conversation is a part of our everyday planning process with clients,' Emma Targett said. 'Things just cost more right now: food, floral, specifically. Anything that's really commodity-based like that, things that are very supply chain dependent. 'So much of our day-to-day now is explaining to clients that food costs more so these catering bills are higher, a lot of times venue minimums have gone up because they have to account for their increased food cost as well,' she said. According to a survey conducted by The Knot of 741 engaged couples planning 2025 or 2026 wedding receptions, over half of the couples, or 53%, reported that tariffs had already impacted decisions about their celebrations. The survey also found that instead of reducing their overall budget, many couples are hiring professionals to navigate cost challenges, including booking well ahead of time to avoid paying more. Take couple Lydia Karpack, 23, of Plymouth and Alex Winnie, 24, of Belleville, Michigan, who will tie the knot at Detroit's Book Tower on Aug. 30. The high school sweethearts got engaged in downtown Plymouth in May 2024 and sought out Meriwether Social to plan their downtown Detroit wedding that is expected to include 145 guests and cost over $75,000. 'There's definitely things that you see that number that a vendor gives you, it's a big number, you're a little shocked about it. Weddings are becoming such this big thing,' Karpack said. 'You really have to evaluate what you really want to splurge on and what's going to be worth it and what you can find alternative ways to get the same look you're going for. It's about balance.' Since Karpack had the venue, photographer and DJ booked in early 2025, she effectively sidestepped some of the tariff-related price increases from vendors. Still, she was sticker-shocked by the prices of hydrangeas and tulips. 'A lot of florists have minimums. You have to start out at $5,000 or $10,000 for flowers and that doesn't include tax or the design fee,' she said. 'It's like that number, I think, scares people. It's a lot of money to spend on flowers. That was something we realized, 'let's find a different solution here and scale back a bit.'' She said 'no' to a huge arched floral wall but yes to the dress and veil she would wear from Magnolia Laine Bridal – Detroit. Cost for those: More than $3,000. 'My veil was pretty expensive,' Karpack said. 'I had no idea how much veils cost — for a couple yards of fabric, it's like $600. I was very shocked about that. I was going to do an Etsy veil for like $100, but matching the color up to a dress and you're looking at the color on a screen … it just gets way too stressful.' Karpack said trimming the flower budget helped the couple afford their preferred reception site, the Book Tower. 'That was something we really wanted to splurge on and then find other ways to save around,' she said, 'so that we could still have the venue that we wanted.'
Yahoo
33 minutes ago
- Yahoo
This AI Stock Just Crushed Palantir's Rule of 40 Score. Is It a Buy Now?
Key Points Palantir has delivered impressive growth on the top and bottom lines. Upstart's revenue more than doubled on strong loan origination growth. Some investors had concerns about the company's take rate. 10 stocks we like better than Upstart › Followers of Palantir (NASDAQ: PLTR) will know that the company likes to use the Rule of 40 as a performance benchmark. This standard in the software industry means that a company should have a combined revenue growth rate and free cash flow margin, or a similar profitability measure, of at least 40 in order to be investable. Palantir Chief Executive Officer Alex Karp hasn't been shy about touting the company's strong performance based on the Rule of 40, noting that it had a Rule of 40 score of 94 in its second-quarter report. That was made up of 48% revenue growth and 46% adjusted operating margin. There's no doubt that that's an impressive result and helps show why Palantir stock continues to soar. However, Palantir didn't have the best Rule of 40 score in the software sector this quarter. Upstart (NASDAQ: UPST), the artificial intelligence-based lending platform, beat Palantir in the Rule of 40. With revenue growth of 102% and an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 21%, giving it a Rule of 40 score of 123. Unlike Palantir, which rose after its earnings report, Upstart actually tumbled despite that blowout Rule of 40 score. Should investors buy the dip on Upstart? Let's take a closer look. About Upstart's quarter A year after Upstart unveiled its improved screening model, Model 18, the company is delivering blistering growth, and that model has improved its conversion rates as the company predicted. Transaction volume jumped 159% to 372,599 loans approved, with a 23.9% conversion rate, meaning applications that became loans, up from 15.2% in the quarter a year ago. Revenue from fees, its core business, rose 84% to $241 million, and total revenue of $257.3 million was well ahead of the average analyst estimate at $225.4 million. Upstart impressed on the bottom line as well, as it flipped an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $9.3 million to a profit of $53.1 million. It also reported a generally accepted accounting principles (GAAP) profit of $5.6 million, or $0.40 per share on an adjusted basis, up from a loss of $0.17, and better than the estimate of $0.25. Upstart's outlook was strong as well, as it raised its full-year forecast and third-quarter projection was ahead of expectations. However, the reason the stock fell, according to analyst commentary, was that Upstart's take rate shrank, a sign that it could be getting harder for the company to convert origination volume into revenue. In the second quarter, originations reached $2.8 billion, and revenue was $257 million, giving it a take rate of 9%, which was down from 12% in the quarter a year ago. Is Upstart a buy? Although the critique about the take rate may be valid, that seems to be a result of Upstart moving into the super prime loan market, where risk and default rates are typically lower, so it's worth the trade-off. Additionally, Upstart is just starting to tap the vast home and auto loan markets. Auto loan originations jumped more than sixfold from a year ago to $114 million, and home loans reached $68 million, up ninefold from the same quarter a year ago. Those categories are still small and contribute just a fraction of total revenue, but they have the potential to be huge in the future. Furthermore, Upstart's surge in revenue and return to profitability has come without any help from lower interest rates. If interest rates fall, demand for loans through its platform could soar even faster. Overall, the sell-off in Upstart looks worth taking advantage of given the rapid growth, improving profitability, and its opportunity in the home and auto markets. If you've been impressed with Palantir's recent results, Upstart is worth taking a look at. Should you invest $1,000 in Upstart right now? Before you buy stock in Upstart, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Upstart wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Jeremy Bowman has positions in Upstart. The Motley Fool has positions in and recommends Palantir Technologies and Upstart. The Motley Fool has a disclosure policy. This AI Stock Just Crushed Palantir's Rule of 40 Score. Is It a Buy Now? was originally published by The Motley Fool
Miami Herald
34 minutes ago
- Miami Herald
New to The Street's Esteemed Client NeOnc Technologies Finalizes $50 Million Strategic Partnership with Quazar Investment as NuroMENA Holdings Receives ADGM Incorporation
CALABASAS, CA AND ABU DHABI, UAE / ACCESS Newswire / August 11, 2025 / NeOnc Technologies Holdings, Inc. (NASDAQ:NTHI), a multi-Phase 2 clinical-stage biotechnology company pioneering therapies for central nervous system (CNS) cancers, today announced the official incorporation of NuroMENA Holdings Ltd. by the Abu Dhabi Global Market (ADGM). This milestone marks the fulfillment of all contingencies required to finalize the previously announced $50 million cornerstone investment from Quazar Investment into NuroMENA Holdings Ltd. This strategic alliance will accelerate the launch of NeOnc's innovative CNS platform across the MENA region and fast-track development of its clinical programs, including NEO212 and NEO100, two advanced therapies with the potential to transform outcomes for brain cancer and other CNS conditions. Vince Caruso, CEO and Creator of New to The Street, added: About NuroMENA Holdings Ltd. NuroMENA is a UAE-based subsidiary of NeOnc Technologies Holdings, Inc., created to oversee regional clinical operations, partnerships, and innovation in the Middle East and North Africa. Upon closing of the $50 million investment and execution of the change of control, NuroMENA will be majority-controlled by Quazar Investment, with joint governance oversight and strategic alignment between NeOnc and Quazar to accelerate breakthrough CNS therapies across the region. NuroMENA was officially incorporated under ADGM on August 6, 2025. About NeOnc Technologies Holdings, Inc. (NASDAQ:NTHI) NeOnc Technologies is a multi-Phase 2 clinical-stage biotechnology company focused on novel therapies for brain cancer and other CNS disorders. With a robust intellectual property portfolio and strong academic collaborations, NeOnc is committed to transforming outcomes in one of the hardest-to-treat areas of oncology. About Quazar Investment Quazar Investment is a leading strategic investment firm headquartered in Abu Dhabi, managing over $3.3 billion in assets under management (AUM). Backed by key partnerships with the UAE Government, Quazar focuses on transformative investments in biotechnology, healthcare, and next-generation infrastructure across the MENA region and globally. About New to The Street (NTTS) New to The Street is one of the longest-running U.S. and international television brands, broadcasting sponsored programming weekly on Bloomberg and FOX Business networks, while leveraging one of the largest business YouTube channels with over 3.2 million subscribers. NTTS maintains an expansive social footprint with 711,000+ followers, friends, and connections across X, Facebook, LinkedIn, and Instagram. With over 16 years in business and more than 2,000 interviews broadcast, NTTS specializes in elevating corporate visibility through long-form interviews, targeted social media, and high-impact outdoor campaigns in Times Square and other iconic locations. Media Contact:info@ Investor Contact:James Carbonara - Hayden IR(646) 755-7412James@ Grace@ SOURCE: New To The Street
