{"id":581762,"date":"2023-02-23T00:00:00","date_gmt":"2023-02-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/almarai-now-owns-100-of-beyti\/"},"modified":"2023-02-23T00:00:00","modified_gmt":"2023-02-23T00:00:00","slug":"almarai-now-owns-100-of-beyti","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/almarai-now-owns-100-of-beyti\/","title":{"rendered":"Almarai now owns 100% of Beyti"},"content":{"rendered":"<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p> Saudi&#8217;s Almarai buys PepsiCo out of Beyt<font face=\"Arial\">i<\/font>: Saudi dairy producer Almarai has bought PepsiCo&#8217;s entire 48% stake in the parent company of juice and dairy producer Beyti for SAR 255 mn (c. USD 68 mn), it said in <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_hQVbWlEQ3WEUjI-IEgPOxgyKIwkwBEeJf--AK4yv7tqee3tTIBACyektYVQkPKep7HfE3Bu2ifrUwpXr6BNcO4PRejxxOzjvQdAG0PcMCXjL7gI36KIJ5B89figbf-vJV8TtvwJvIjbAlwwzICzl0fMfdh51LQakjE9xGZfatZTjsxDFZaiiilVVaYxzlsbagWcqvpOc-UVA2CZrrnZpTAQ90uqaSjWRq4Lmd_-eRVwe0nULoci2ISZeFljC2NmK8gBmOboO\/dz\/d5\/L0lDU0lKQ2dwUkNncFJDaUNsRUtJS1VRIS9ZQVVFQUFBSUlNSUVBSUNLR0tHQ0tPQk9CQ09KSkZKRk5JRUVKRERMRExOREFBISEvNEpDaWpzWXBNaFRqVUU1Q2ttb3ByZHRMWXpVczF1MmxzNXFDUUEhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9BTk5PVU5DRU1FTlRfTlVNQkVSLzcyMDU0L2NvbXBhbnlTeW1ib2wvMjI4MC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZA!!\/\">a disclosure<\/a> to the Saudi stock exchange on Sunday. Almarai now owns 100% of International Dairy and Juice Limited (IDJ), its former joint venture with PepsiCo. The acquisition was funded through Almarai&#8217;s internal cashflows, the company said. <\/p>\n<p><span>Expansion in the works: &#8220;<\/span><span>The full ownership of IDJ will allow Almarai to further expand strategically in the wider region,&#8221; Almarai said in the disclosure.<\/span><\/p>\n<p><span>Almarai sat down with gov&#8217;t days after the acquisition to talk FDI + exports: <\/span><span>Almarai is considering exporting some USD 240 mn worth of Egypt-made juices and food products to its Saudi factories every year, Almarai CEO Abdullah Albader told Prime Minister Moustafa Madbouly in a meeting on <\/span><span>Tuesday<\/span><span>, according to <\/span><span><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0P8S6VMd3ySeLNEWvbwD5jjxGyzEA52EYAqheDf1SWhbPQ6TQRgW28KV3LiXUEJpxl\">a cabinet statement<\/a><\/span><span>. Company chairman Prince Nayef bin Sultan Al Kabeer told Madbouly that the company &#8220;excited to invest more in Egypt&#8221; to boost exports to neighboring countries and across Africa. <\/span><\/p>\n<p><span>Beyti was already growing:<\/span><span> Beyti previously said it <\/span><span><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years-85773\/\">plans to invest EGP 440 mn<\/a><\/span><span> in Egypt in 2023 and 2024. The company added <\/span><span><a href=\"https:\/\/enterprise.press\/stories\/2022\/02\/07\/beyti-united-pharma-announce-investments-to-ramp-up-production-64344\/\">six new local production lines<\/a><\/span><span> at a cost of EGP 165 mn in 2022, bringing its total number of production lines to 25.<\/span><\/p>\n<p><span>Our Gulf friends have a taste for our F&amp;B sector: <\/span><span>Emirati firm &#8212; and Almarai rival &#8212; Agthia last year <\/span><span><a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/17\/adqs-agthia-to-buy-majority-stake-in-auf-group-75696\/\">bought a 60% stake<\/a><\/span><span> in Egyptian food company Auf Group, after snapping up 75% of Atyab brand owner Ismailia Agricultural and Industrial Investments in 2021. Agthia is owned by Emirati wealth fund ADQ, while Saudi sovereign wealth fund PIF owns a <\/span><span>c. 16% stak<\/span><span>e in Almarai. PIF and ADQ together invested USD 3.1 bn in government-owned shares in EGX-listed companies last year, and have reportedly expressed interest in several of the <\/span><span><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\">32 companies<\/a><\/span><span> earmarked by the government for privatization.<\/span><\/p>\n<p><span>INTEREST IN MARCYRL PHARMA-<\/span><\/p>\n<p><span>Two unnamed British and French investment funds are seeking an acquisition of <\/span><span>a 20% stake in <\/span><span><a href=\"https:\/\/www.marcyrl.com\/\">Marcyrl Pharma<\/a><\/span><span>, the company&#8217;s general manager Wagdy Mounir told pharma-focused outlet <\/span><span><a href=\"http:\/\/bit.ly\/3lXIikz\">Souq Al Dawaa<\/a><\/span><span>. He said the British fund is eyeing a 15% stake, while the French could acquire the remaining 5%, without providing a value of the transaction. The transaction has entered its final stage, with the involved parties now seeking the necessary regulatory approvals, he said. Proceeds from the transaction would be invested into expanding the company&#8217;s operations, he added. <\/span><\/p>\n<p><span>About Marcyrl<\/span><span>:<\/span><span> Established in 1998, Marcyrl Pharma &#8220;formulates dosage forms of recently generic drugs from local and imported intermediates&#8221; in the forms of solid, liquid, semi-solid, suppositories and soft gelatine capsules, according to its <\/span><span><a href=\"https:\/\/www.marcyrl.com\/marcyrl-profile\">website<\/a><\/span><span>. It acts as a sole agent and representative of Germany&#8217;s Merz Pharma, Schwabe Group, Engelhard Arzneimittel and Switzerland&#8217;s IBSA Group. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi&#8217;s Almarai buys PepsiCo out of Beyti: Saudi dairy producer Almarai has bought PepsiCo&#8217;s entire 48% stake in the parent company of juice and dairy producer Beyti for SAR 255 mn (c. USD 68 mn), it said in a disclosure to the Saudi stock exchange on Sunday. Almarai now owns 100% of International Dairy and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581763,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[72,125,7128,681,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-investment-watch","tag-ma-watch","tag-pepsico","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"0c0191aa-7390-4230-bd7d-991222f10539","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/dairy-Almarai-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581751],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.ed48777f-c8fc-4399-9883-973338ce1a16.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Almarai now owns 100% of Beyti - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/almarai-now-owns-100-of-beyti\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Almarai now owns 100% of Beyti\" \/>\n<meta property=\"og:description\" content=\"Saudi&#8217;s Almarai buys PepsiCo out of Beyti: Saudi dairy producer Almarai has bought PepsiCo&#8217;s entire 48% stake in the parent company of juice and dairy producer Beyti for SAR 255 mn (c. 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Saudi dairy product producer Almarai is reportedly looking to acquire Americana Group subsidiary Greenland Group for Food Industries in a transaction worth as much as USD 75 mn, according to a domestic press report citing sources with knowledge of\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576870,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/01\/beyti-is-looking-to-invest-egp-440-mn-in-egypt-over-two-years\/","url_meta":{"origin":581762,"position":1},"title":"Beyti is looking to invest EGP 440 mn in Egypt over two years","author":"enterpriseam admin","date":"1 November 2022","format":false,"excerpt":"Dairy and juice producer Beyti plans to invest EGP 440 mn in Egypt over the next two years, split equally between this year and next, CEO Mark Wiley said at a press conference, according to Mubasher. 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