JAZADCO buys 80% stake in Fish Day for SAR 1 mln

16/06/2020 Argaam

 

Jazan Energy and Development Co. (JAZADCO) signed an agreement on June 15 to acquire an 80% stake in Fish Day Co., the owner and operator of the Fish Day portal, which offers fresh fish home delivery services.

 

JAZADCO bought the stake for SAR 1 million, and the value will be partly invested in marketing and operations development, the company said in a statement to Tadawul on Tuesday.

 

The acquisition came as part of JAZADCO’s strategy that aims to expand in the e-commerce sector, deploy advanced technology and innovative marketing to achieve fast growth and provide its customers with a unique purchasing experience.

 

Fish Day owns an 800-hectare shrimp farm in Saudi Arabia, with an annual production capacity of 3,000 tons, the statement concluded.

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