Almarai expands into poultry, juice
Saudi Arabian company acquires Hadco and Beti
Almarai, the world’s largest dairy foods company, will acquire Hail Agricultural Development Company (Hadco) for $253.2 million, say reports. The move will propel the company, based in the capital of the Kingdom of Saudi Arabia, into the poultry market.
In further expansion, Almarai also acquired the Egyptian firm Beti and, with it, a stake in a joint venture with PepsiCo named International Dairy and Juice. The new venture will be seeking juice and dairy opportunities in Asia, Africa and the Middle East.