Almunajem signs €20.5M deal to acquire Doux, Supreme brands

Logo of Almunajem Foods Co.

Almunajem Foods Co. signed a €20.5 million-agreement with France Poultry to acquire intellectual property rights for Doux and Supreme global brands in Saudi Arabia, GCC countries, and Yemen.

In a Tadawul statement, the company confirmed that the fairness of the evaluation has been verified based on independent valuation reports issued by two specialized and independent consulting firms.

The Doux brand has been a leading brand in the poultry sector in Saudi Arabia for more than 50 years.

The company expects that this acquisition will positively contribute to its business growth, strengthen its asset base, and enhance the value of its investment in Balady Poultry Co.

France Poultry is wholly owned by Abdullah Al Ali Al Munajem Sons Co., a related party. The trademark assignment agreement has been concluded in accordance with the applicable laws and regulations and without granting any preferential terms or advantages.