Tuesday 4 May 2021
Riyadh-based Almarai Company, the world’s largest vertically integrated dairy company, said it has acquired 100% shares in Bakemart UAE and Bakemart Bahrain for an enterprise value of AED 93.5 million (USD 25 million).
The acquisition will further expand the Middle East’s largest food and beverage manufacturer and distributor's bakery product offering.
The transaction is subject to regulatory approvals.
With operations in the UAE, Bahrain, and Qatar, Bakemart produces frozen bakery items.