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SHARE Saudi Arabia's Almarai, the biggest dairy company in the Middle East, acquired an additional stake in Riyadh-based snacks-maker Modern Food Industries amid a product diversification push. Almarai subsidiary Western Bakeries Company purchased the stake owned by Olayan Financing Company for 150 million Saudi riyals ($40m), the company said in a filing on Sunday to the Saudi Stock Exchange, Tadawul, where its shares trade. The diary company said it used its operating cash flow to fund the acquisition, with the financial impact expected to be reflected in its next quarterly results. Followi...
DUBAI: Saudi Arabia's Almarai has acquired an additional stake in a bakery company. Almarai, through its Western Bakeries Company unit, has bought an additional 15 percent stake owned by Olayan Financing Company in Modern Food Industry (MFI), which is known for its long shelf-life pastries under the brand name “7Days.” The transaction totaled SR150 million ($39.9 million), according to a stock exchange filing on Sunday. A bumper year of sales and an increased focus on food security in the wake of the coronavirus pandemic is encouraging a wave of merger and acquisition activity across the ...
Tenants are exploring legal options after Greenbrook Partners declined to renew leases in several of its Park Slope buildings.
Chipita - linked with sale to Mondelez Reports in the Greek media have linked US confectionery and snacks giant Mondelez International with a deal to buy Athens-based snacks business Chipita. The reports suggest the deal could be sealed with a EUR1.7bn (US$2.06bn) offer. When approached by just-food, a Mondelez spokesperson said the company "cannot comment on market rumours and speculation". The Greek media reports such as from Euro2Day and EMEA Business Monitor suggest an announcement could be made before the end of May and that Credit Suisse and Goldman Sachs have been appointed as adviser...