UAE’s Agthia Group posts Dhs3.27bn in nine-month revenue
UAE food and beverages group Agthia said its net revenue in the first nine months of 2023 rose by 10.9 per cent to Dhs3.27bn year-on-year (YoY), driven by a robust performance from the snacking and agribusiness segments as well as a more competitive and price-sensitive backdrop in some markets. The group’s snacking segment, product and […]
Saudi Agricultural Exhibition witnesses signing of 16 agreements with investments exceeding $800mln
The activities of the day one of the 40th session of the Saudi Agricultural Exhibition, held under the patronage of Eng. Abdulrahman bin Abdulmohsen Al-Fadhli, the Minister of Environment, Water, and Agriculture, started today in Riyadh. The day witnessed the signing of 16 agreements, with investments exceeding SAR3 billion, and three memorandums of understanding for […]
Bahrain’s GFH acquires Saudi food services and logistics company for $133mln
Bahrain’s GFH Financial Group has confirmed it will acquire a Saudi Arabian food services and logistics business for SAR 500 million ($133 million). In a statement to Dubai Financial Market (DFM), GFH said the company had an enterprise value of SAR 500 million. Razi Al Merbati, CEO of GFH Capital S.A., said: “This transaction will […]
EDB supports food security with Dhs721m under its five-year strategy
UAE’s Emirates Development Bank (EDB) has approved more than Dhs721m in funding for food security projects since the launch of its new strategy in April 2021. The development lender has allocated Dhs30bn to support 13,500 small to medium enterprises (SMEs) in five priority sectors – manufacturing, renewables, technology, healthcare, and food security. “It is important […]
ADQ-backed Silal acquires majority stake in SAFCO Group
ADQ-backed Silal has acquired a majority stake in SAFCO Group, a UAE food and beverage distributor, in a deal that will bolster the company’s market presence and expand its footprint in the food service and distribution industry. The Abu Dhabi-based agtech firm said the transaction aligns with its growth ambitions and significantly strengthens its presence […]