Almarai acquires logistics company for $48.5mln

Almarai said that the acquisition will enhance its capabilities to serve customers with an expanded range of frozen products across Saudi Arabia, according to a bourse filing

Staff Writer, Mubasher

May 19, 2024

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Almarai Company has completed the acquisition of Etmam Logistics for SAR 182 million.

Almarai said that the acquisition will enhance its capabilities to serve customers with an expanded range of frozen products across Saudi Arabia, according to a bourse filing.

The company added that the transaction will also improve its “foodservice credentials by allowing broader product offering opportunities, accelerate poultry business growth, and expand ice cream, bakery, and other frozen categories in the future.”

Almarai reported net profits of SAR 692.22 million in the fourth quarter (Q4) of 2024, up 9% from SAR 635.05 million in Q1-23.

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