Almarai acquires logistics services provider for SAR 182M

Almarai Co. headquarters

Almarai Co. acquired today, Dec. 5, Etmam Logistics Co., which provides frozen storage and distribution capabilities, at a value of SAR 182 million.

The acquisition will be financed by Almarai’s internally generated cashflows, the company said in a statement to Tadawul.

The acquisition will enhance Almarai’s ability to serve its customers with an expanded range of frozen products across the Kingdom. This will accelerate the development of its food service operations by enabling a broader product offering, driving growth in the poultry business with increased penetration of the frozen category. It will also provide a footprint for expansion into other frozen categories in the future.

The completion of the acquisition is subject to regulatory approvals, the company stated.

There are no related parties to the deal.