Saudi Arabia’s Almarai to Acquire Pure Beverages Industry Co. in $277m Deal
Source: dairynews.today
Almarai has signed an agreement to acquire Pure Beverages Industry Co. for $277 million, aiming to diversify its market offerings.
Saudi dairy giant Almarai has signed an agreement to fully acquire Pure Beverages Industry Co. for SR1.04 billion ($277 million), aiming to diversify its offerings and enhance its market position. Pure Beverages Industry Co. is a bottled drinking water producer in the Kingdom, known for its "Ival" and "Oska" brands.
The acquisition is part of Almarai's strategic ambitions under Vision 2030, which encourages economic diversification and investment. In a statement, Almarai stated: "This strategic acquisition is in line with Almarai's plan to diversify its beverage offerings and enhance its market position. We believe this deal will create added value for our shareholders.
" This transaction will be financed through Almarai's internal cash flows, pending necessary regulatory and contractual approvals. Founded in 1977, Almarai is one of the largest food production and distribution companies in the Middle East, offering a wide range of products including dairy, juice, and poultry. Listed on Tadawul since 2005, it is one of the market’s highest-valued firms.
Economic initiatives, such as Vision 2030, aim to boost M&A activity in Saudi Arabia by enabling privatization and foreign investments—indicating broader market shifts. Bottled water remains the primary drinking source in Saudi households, with a reliance rate of 57.24 percent in 2023, reflecting the acquisition's strategic importance.
The acquisition is part of Almarai's strategic ambitions under Vision 2030, which encourages economic diversification and investment. In a statement, Almarai stated: "This strategic acquisition is in line with Almarai's plan to diversify its beverage offerings and enhance its market position. We believe this deal will create added value for our shareholders.
" This transaction will be financed through Almarai's internal cash flows, pending necessary regulatory and contractual approvals. Founded in 1977, Almarai is one of the largest food production and distribution companies in the Middle East, offering a wide range of products including dairy, juice, and poultry. Listed on Tadawul since 2005, it is one of the market’s highest-valued firms.
Economic initiatives, such as Vision 2030, aim to boost M&A activity in Saudi Arabia by enabling privatization and foreign investments—indicating broader market shifts. Bottled water remains the primary drinking source in Saudi households, with a reliance rate of 57.24 percent in 2023, reflecting the acquisition's strategic importance.
