Latest news with #HammoudehFoodIndustries
Zawya
16-06-2025
- Business
- Zawya
Almarai to buy Saudi bottled drinking water producer for $277mln
Saudi Arabia's dairy and food group Almarai will acquire Pure Beverages Industry, a Riyadh-based bottled drinking water manufacturer, for 1.04 billion Saudi riyals ($277.23 million). The acquisition aligns with Almarai's growth strategy to grow its beverage portfolio and expand its consumer offerings. The buyout will be financed through internal cash reserves. However, the completion of the deal is subject to the fulfillment of contractual conditions and obtaining the necessary regulatory approvals in the kingdom. Pure Beverages, established by Ajlan & Bros Group in 1979, owns the Ival and Oska brands, according to the company's website. In March, Almarai said a plan to fully acquire the shares of Hammoudeh Food Industries by one of its subsidiaries for SAR263 million fell through as the seller was unable to meet certain conditions required to complete the transaction. (Editing by Seban Scaria
Zawya
18-03-2025
- Business
- Zawya
Saudi Almarai says acquisition of Jordan's Hammoudeh Food falls through
Saudi Arabia's dairy and food group Almarai said a plan to fully acquire the shares of Hammoudeh Food Industries by one of its subsidiaries for 263 million riyals ($70 million) fell though as the seller was unable to meet certain conditions required to complete the transaction. Almarai said it remains open to exploring future expansion opportunities. Last October, Almarai said its subsidiary Teeba Investment for Developed Food Processing Company was looking to acquire the Jordanian dairy and cheese business 'subject to certain adjustments'. The transaction was to have been financed by Almarai's internal cash flows. (Writing by Brinda Darasha; editing by Daniel Luiz)
