{"id":82580,"date":"2023-12-06T00:00:00","date_gmt":"2023-12-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2023\/12\/06\/almarai-grabs-etmam-logistics-for-sar-182-mn-amid-push-into-frozen-foods\/"},"modified":"2023-12-06T00:00:00","modified_gmt":"2023-12-06T00:00:00","slug":"almarai-grabs-etmam-logistics-for-sar-182-mn-amid-push-into-frozen-foods","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2023\/12\/06\/almarai-grabs-etmam-logistics-for-sar-182-mn-amid-push-into-frozen-foods\/","title":{"rendered":"Almarai grabs Etmam Logistics for SAR 182 mn amid push into frozen foods"},"content":{"rendered":"

Almarai grabs Etmam Logistics for SAR 182 mn<\/strong>: Almarai<\/a> \u2014 the Gulf's largest dairy company \u2014 acquired frozen storage provider and distributor Etmam Logistics<\/a> in a SAR 182 mn transaction, according to Tadawul filing<\/a> yesterday. <\/p>\n

Sorry, bankers: No external finance needed:<\/strong> Almarai\u2019s internally generated cashflows are set to fully finance its acquisition of Etmam, which is still subject to regulatory approval.<\/p>\n

What\u2019s in it for the leading dairy producer:<\/strong> The takeover falls under Almarai\u2019s expansionplans to include a range of frozen products across the kingdom. It will help boost its poultry production, allowing it expand its product offering and push deeper into the frozen food segment.<\/p>\n

REMEMBER- Almarai made an entry to the frozen bakery segment this year: <\/strong>The dairy company is investing some SAR 405 mn<\/a> over the course of two years to increase its fresh bakery capacity and enter the frozen bakery market in the kingdom, it said in October. <\/p>\n

Almarai has been making headlines in recent months: <\/strong>In October, the kingdom\u2019s leading food-processor Savola Group \u2014 Almarai\u2019s largest shareholder \u2014 confirmed reports<\/a> that it is reviewing options for USD 5.3 bn stake in Almarai in what could be one of the region\u2019s biggest M&A transactions. However, talks are at an early stage and Savola may decide against the sale, Bloomberg<\/a> reported at the time, citing people in the know.<\/p>\n

TAIBA FINALIZES PROCEDURES TO ACQUIRE DUR-<\/strong><\/p>\n

IN OTHER M&A NEWS- Taiba Investments<\/strong> has completed necessary procedures for its acquisition of Dur Hospitality<\/strong>, the company said in a disclosure<\/a> to Tadawul yesterday. Tadawul\u2019s said earlier this week<\/a> it would delist all of Dur\u2019s shares as the transaction goes ahead.<\/p>\n

Background<\/strong>: Shareholders of both Dur and Taiba approved the merger on November 30, following Taiba\u2019s shareholders\u2019 approval of a SAR 1 bn capital increase to acquire Dur\u2019s 100 mn shares, Argaam<\/a> reported at the time. <\/p>\n","protected":false},"excerpt":{"rendered":"

The move nicely compliments Almarai\u2019s plans to widen its range of frozen products<\/p>\n","protected":false},"author":1,"featured_media":82581,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[2575],"tags":[284,575,10,576,238,2720,14],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-almarai","tag-dairy","tag-enterpriseam-ksa","tag-frozen-storage","tag-logistics","tag-ma","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"671e6ad7-a890-4e53-8e17-fb3085623a01","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/dairy-Almarai-1600px.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi dairy company acquires logistics service provider Etmam for SAR 182 mn","related_issue":[82573],"teaser":"The move nicely compliments Almarai\u2019s plans to widen its range of frozen products","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.f05d8552-53be-4029-a0d9-3c1097d48201.mp3"},"yoast_head":"\nAlmarai grabs Etmam Logistics for SAR 182 mn amid push into frozen foods - 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