Latest news with #Almarai
Argaam
4 days ago
- Business
- Argaam
Prices of 100 Saudi commodities, services rise in May
The average prices of 100 out of 169 goods and services in 10 categories in Saudi Arabia turned higher year-on-year (YoY) in May, data issued by the General Authority for Statistics (GASTAT) showed. On the other hand, the prices of 64 commodities declined for the same month, while five others remained unchanged. African medium lemon was the highest gainer in May, up 34.35% YoY, followed by white American cardamom with a 28.62% YoY hike. Meanwhile, local medium potatoes was the biggest decliner, dropping by 14.8% YoY, followed by local spreadable cheese (Almarai), which tumbled by 14.6% YoY. Elsewhere, prices of 29 construction materials rose on an annual basis last month, while eight others decreased YoY. Annual prices of five feed and livestock types surged in May, while eight others contracted YoY. In the clothing category, prices of six items increased YoY, while four others retreated YoY for the same month. Prices of three miscellaneous personal services and commodities went up YoY, while one fell YoY in May. Prices of three detergent products advanced last month, compared to May 2024. Meanwhile, one item remained flat. Prices of the three health services witnessed a YoY rise in the same month. Similarly, prices of one service under the maintenance & repair of personal means of transportation grew on an annual basis. The other service under the same category, on the other hand, retreated YoY in May. Meanwhile, prices of both hotel rooms and furnished apartments soared YoY in May.
Arabian Business
4 days ago
- Business
- Arabian Business
Almarai to acquire Pure Beverages Industry for $280mn
Saudi Arabia's Almarai Company is acquiring 100 per cent of the shares of Pure Beverages Industry for SAR1.04 billion (US$280 million). Pure Beverages owns popular brands like Ival and Oska and is a leading producer of high-quality bottled drinking water in Saudi Arabia. The company operates state-of-the-art facilities that use innovative production technologies. Almarai, with over 50 years of experience in the region (established 1977), is one of the largest food production and distribution companies in the Middle East, offering fresh dairy, yogurt and cheese, as well as juices, baked goods, poultry, and infant nutrition products. In a filing with Tadawul, Almarai said: 'This strategic acquisition aligns with Almarai's growth strategy to expand its beverage portfolio and enhance its consumer offerings. Almarai is confident that this acquisition will create value for its shareholders.' The acquisition will be financed through the company's internal cash flows and completion is subject to mandatory regulatory approvals. Arab News said that according to the General Authority for Statistics, bottled water was the primary source of drinking water used by households in Saudi Arabia in 2023, with a reliance rate of 57.24 per cent. This was followed by public network water at 23.56 per cent and tanker water at 18.60 per cent.
Yahoo
4 days ago
- Business
- Yahoo
Almarai to buy bottled-water producer Pure Beverages
Saudi Arabian food and beverage group Almarai has agreed to acquire local bottled-water business Pure Beverages Industry Company for SR1.04 ($277m). In a stock-exchange filing yesterday (15 June), Almarai said the deal is in line with its 'growth strategy to expand its beverage portfolio and enhance its consumer offerings'. Almarai, which sells dairy and juice products under its namesake brand, added it is 'confident that this acquisition will create value for its shareholders'. Headquartered in Riyadh, Pure Beverages Industry Company owns the Ival and Oska brands, with factories in Riyadh, Jeddah and Dammam. According to its website, Pure Beverages Industry Company was set up by Saudi conglomerate Ajlan & Bros. Group in 1979. Almarai plans to finance the acquisition through its internal cash flows, with the completion of the transaction subject to contractual conditions and regulatory approvals in Saudi Arabia. The deal follows Almarai's recent unsuccessful attempt earlier this year to acquire Jordan-based Hammoudeh Food Industries. In March, Almarai said the deal could not proceed 'due to factors beyond the company's control, as the seller was unable to meet certain conditions required to complete the transaction'. Almarai added it is 'open to exploring future expansion opportunities, recognising the strategic importance of strengthening regional operations and expanding geographically to serve consumers in various markets'. The group operates in dairy, poultry, bakery, infant-nutrition, and juice sectors. In 2024, Almarai generated revenue of SR20.98bn, up from SR19.58bn in 2023. Operating profit stood at just under SR3bn, versus SR2.69bn a year earlier. Net profit was SR2.31bn, against SR2.05 the year previous. According to GlobalData, Just Drinks' parent, the size of Saudi Arabia's packaged water market in volume terms was 3.88bn litres last year. The data and analytics group forecasts growth of 3.9% this year to 4.03bn litres. In March, Berain Water, another Saudi bottled-water business, attracted a new investor. Hassana Investment Company acquired a 40% stake in Berain from Rajhi-Invest. Berain has three production plants in Jeddah and Riyadh, and markets bottled water in multiple size options. "Almarai to buy bottled-water producer Pure Beverages" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
5 days ago
- Business
- Zawya
Almarai to buy Saudi bottled drinking water producer for $277mln
Saudi Arabia's dairy and food group Almarai will acquire Pure Beverages Industry, a Riyadh-based bottled drinking water manufacturer, for 1.04 billion Saudi riyals ($277.23 million). The acquisition aligns with Almarai's growth strategy to grow its beverage portfolio and expand its consumer offerings. The buyout will be financed through internal cash reserves. However, the completion of the deal is subject to the fulfillment of contractual conditions and obtaining the necessary regulatory approvals in the kingdom. Pure Beverages, established by Ajlan & Bros Group in 1979, owns the Ival and Oska brands, according to the company's website. In March, Almarai said a plan to fully acquire the shares of Hammoudeh Food Industries by one of its subsidiaries for SAR263 million fell through as the seller was unable to meet certain conditions required to complete the transaction. (Editing by Seban Scaria
Arab News
5 days ago
- Business
- Arab News
Saudi Arabia's Almarai to acquire Pure Beverages Industry Co. in $277m deal
RIYADH: Saudi dairy giant Almarai has signed an agreement to fully acquire Pure Beverages Industry Co. for SR1.04 billion ($277 million), aiming to diversify its offerings and enhance its market position. Pure Beverages Industry Co. is a bottled drinking water producer in the Kingdom, known for its 'Ival' and 'Oska' brands. The company operates modern facilities and follows established production standards with a focus on quality and sustainability. Mergers and acquisitions are on the rise in Saudi Arabia as the nation pursues economic diversification and privatization efforts under Vision 2030, a strategy that promotes foreign investment and supports local entrepreneurship. In a statement, Almarai stated: 'This strategic acquisition is in line with Almarai's plan to diversify its beverage offerings and enhance its market position. We believe this deal will create added value for our shareholders.' The transaction will be funded through Almarai's internal cash flows and is subject to fulfilling all contractual conditions and obtaining necessary regulatory approvals in the Kingdom. Almarai also confirmed that there are no related parties involved in the transaction and pledged to disclose any material updates regarding the deal in the future. Founded in 1977, Almarai is one of the largest food production and distribution companies in the Middle East, offering fresh dairy, yogurt and cheese, as well as juices, baked goods, poultry, and infant nutrition products. Listed on Tadawul since 2005, it remains one of the market's highest-valued companies. According to the General Authority for Statistics, bottled water was the primary source of drinking water used by households in Saudi Arabia in 2023, with a reliance rate of 57.24 percent. This was followed by public network water at 23.56 percent and tanker water at 18.60 percent. Given the heavy reliance on bottled water, the Saudi Water Authority plays a pivotal role in regulating and improving water sources — ensuring sustainability, safety, and accessibility across all supply methods. The authority is the competent body in the Kingdom for all water system affairs at the supervisory and regulatory levels, providing strategic support to the sector through regulatory control and supervision.
