Almarai subsidiary acquires PepsiCo’s 48% stake in International Dairy and Juice

Almarai headquarters

Almarai Co.’s subsidiary, Almarai Investment Holding Co., completed on Feb. 17 the purchase of PepsiCo’s 48% ownership in International Dairy and Juice Ltd (IDJ).

The SAR 255-million deal raises Almarai’s shareholding in IDJ to 100% from 52%, the company said in a statement on Tadawul.

The purchase amount was funded from Almarai’s internal cash flows, the statement added, indicating that the full ownership of IDJ will allow it to further expand strategically in the wider region.

IDJ was a joint venture between Almarai and PepsiCo and its main activities consist of manufacturing and distribution of food & beverage in Egypt and Jordan, as well as exporting worldwide.

PepsiCo has remained a trusted and valued partner since the formation of the joint venture in 2009, the statement also included.