Almarai to Acquire Pure Beverages in SAR 1 Billion Deal
Almarai, one of the leading food and beverage manufacturing and distribution companies in the MENA region, has signed a share purchase agreement to acquire 100% stake in Riyadh-based Pure Beverages Industry Company valued at 1.04 billion Saudi riyals ($277 million).
Pure Beverages Industry Company is a leading producer of high-quality bottled drinking water in Saudi Arabia with its brands Ival and Oska. It operates state-of-the-art facilities using innovative production technologies committed to the highest international quality standards and sustainable industry practices.
The strategic acquisition aligns with Almarai’s growth strategy to expand its beverage portfolio and enhance its consumer offerings. The f&b major is confident that this acquisition will create value for its shareholders.
The acquisition will be financed through Almarai’s internal cash flow and completion is subject to contractual conditions and obtaining the necessary regulatory approvals.
Besides dairy products, Almarai has a diversified portfolio including baked goods, poultry products, natural juices and beverages, infant nutrition, dates, and seafood.
