Almarai has secured all the regulatory approvals required to close its SAR 182 mn acquisition of Etmam Logistics, it said in a disclosure to Tadawul. The definitive acquisition agreement was originally signed in December 2023. The diary giant financed the transaction with its own resources.

Why is this important? The dairy giant recently made an entry into the frozen bakery market last year with a SAR 405 mn investment over two years to expand fresh bakery capacity, it said in October. The recent acquisition of Etmam will boost Almarai’s abilities to supply customers across the Kingdom with a larger range of frozen products, the disclosure also said.

What does Etmam do? Etmam is the logistics arm of Saudi food distributor Shahini, and operates a fleet of over 220 vehicles. The outfit was founded in 2016 and specializes in warehousing, transportation, logistics, supply chain, distribution, third party logistics (3PL), and cold chain logistics services for food products.

Tags: