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Almarai: Announces Acquisition of Premier Foods LLC

Riyadh / SA. (ac) Almarai Company is pleased to announce that on 04 February, 2019, the Company has signed a Sale Purchase Agreement with Alamar Foods CJSC to acquire 100 percent Shares in Premier Foods LLC for an Enterprise Value of SAR 108.0 million. Premier Foods is engaged in providing value added products (meat and poultry) to the food services industry in the Middle East. This acquisition will further enhance Almarai’s footprint for expansion in the foodservice channel. This transaction is fully financed from Almarai’s operating cash flow, and the financial impact of this acquisition will be reflected in next Quarter’s results. Almarai also wants to highlight that there are no related parties in the acquisition.