Almarai to Acquire Jordan’s Hammoudeh Food Industries in $70 Million
Source: DairyNews.today
Almarai, one of the largest dairy companies in the Middle East, has announced a definitive agreement to acquire 100% of Jordanian dairy producer Hammoudeh Food Industries. The acquisition, valued at SAR 263 million (approximately $70 million), will be executed through Almarai’s subsidiary, Teeba Investment for Developed Food Processing.
Hammoudeh Food Industries, a well-established name in Jordan’s dairy and cheese market for over 50 years, is expected to strengthen Almarai’s presence and operational scale within the region. This strategic acquisition aligns with Almarai’s commitment to driving sustainable growth across core markets and expanding its geographical footprint in the Middle East.
In a statement, Almarai noted, "By acquiring Hammoudeh Food Industries, Almarai will enhance its ability to better serve customers in the region, expand its operations and product range, and leverage operational scale in Jordan to drive both sales growth and profitability."
The acquisition is set to be financed through Almarai’s internal cash flows, underscoring the company's robust financial position. While the transaction is subject to specific contractual conditions and regulatory approvals in both Saudi Arabia and Jordan, it marks a significant step in Almarai’s strategy to diversify its operations and broaden its market reach.
As Almarai continues its expansion efforts, the acquisition of Hammoudeh reflects the company’s focus on capturing additional market share in the Middle East’s competitive dairy sector and catering to the growing demand for high-quality dairy products across the region.
In a statement, Almarai noted, "By acquiring Hammoudeh Food Industries, Almarai will enhance its ability to better serve customers in the region, expand its operations and product range, and leverage operational scale in Jordan to drive both sales growth and profitability."
The acquisition is set to be financed through Almarai’s internal cash flows, underscoring the company's robust financial position. While the transaction is subject to specific contractual conditions and regulatory approvals in both Saudi Arabia and Jordan, it marks a significant step in Almarai’s strategy to diversify its operations and broaden its market reach.
As Almarai continues its expansion efforts, the acquisition of Hammoudeh reflects the company’s focus on capturing additional market share in the Middle East’s competitive dairy sector and catering to the growing demand for high-quality dairy products across the region.
