Sector News

Almarai says seeks controlling stake in UAE’s National Food Products

April 19, 2016
Consumer Packaged Goods

Saudi Arabia’s Almarai wants to buy a controlling stake in the UAE’s National Food Products Co (NFPC), the Riyadh-listed firm said on Sunday.

NFPC has invited Almarai, the Gulf’s largest dairy company, to conduct due diligence as part of a competitive sales process, according to a statement to Riyadh’s bourse.

In December, Reuters reported that Almarai was one of several companies to have shown an interest in NFPC, citing sources.

NFPC is one of the largest food and dairy manufacturers and distributors in the United Arab Emirates (UAE) and markets brands including Milco, Lacnor and Oasis bottled water.

Source: Gulfnews

comments closed

Related News

May 4, 2024

Emergent Cold LatAm opens ‘Chile’s largest’ frozen food warehouse

Consumer Packaged Goods

Temperature-controlled storage and logistic solution provider, Emergent Cold LatAm, has opened ‘Chile’s largest’ frozen food warehouse. Located in Talcahuano, a region renowned for its seafood and fruit production and exports, the warehouse represents a strategic enhancement of the local cold chain infrastructure.

May 4, 2024

Asahi Beverages buys Australian gin manufacturer Never Never

Consumer Packaged Goods

Never Never gin will be sold through Asahi’s alcohol division, Carlton & United Breweries (CUB). According to the company, the acquisition – which won’t impact daily operations – will enable Never Never’s premium gin to reach a wider customer base while enhancing support and product offerings for existing customers.

May 4, 2024

Coca-Cola Europacific Partners CFO resigns, moves to Diageo

Consumer Packaged Goods

Coca-Cola Europacific Partners (CCEP) announced today the forthcoming departure of Nik Jhangiani, senior vice president and chief financial officer, with plans underway to identify his successor. Jhangiani will be stepping down to assume the role of CFO at Diageo later this year.

How can we help you?

We're easy to reach