Almarai Company announces the acquisition of Premier Foods

Almarai Company (“the Company”), is pleased to announce that the Company has signed a Sale Purchase Agreement with Alamar Foods CJSC to acquire 100% Shares in Premier Foods LLC. (“Premier Foods”), for an Enterprise Value of SAR 108.0 million.

Premier Foods is engaged in providing value added products (meat and poultry) to the food services industry in the Middle East. This acquisition will further enhance Almarai’s footprint for expansion in the foodservice channel.

This transaction is fully financed from Almarai’s operating cash flow, and the financial impact of this acquisition will be reflected in next Quarter’s results.
We also want to highlight that there are no related parties in the acquisition.

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