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Almarai to invest SAR 18 bn through 2028 as part of strategic plan: Dairy giant Almarai plans to spend SAR 18 bn over the next five years as part of a strategic plan aimed at maximizing sales, it said in a disclosure to Tadawul yesterday. It plans to ramp up investment in supply chain, development, sustainability, operational efficiency, and technology.
Ironing out the details: The strategy sees investments of SAR 7 bn for poultry expansion, SAR 5 bn for existing dairy, juice and bakery segments, and SAR 1 bn for new food segments. Some SAR 3 bn will be allocated to develop supply chain and sales capabilities to back expansions here and regionally. It also plans to invest SAR 1 bn to help expedite technology development. The company will finance the investment from its own cashflows, it said.
It’s been eventful for Almarai: Savola Group — Almarai’s biggest shareholder — said in February that it plans to offload its full 34.5% stake in the dairy producer, which is MENA’s largest dairy outfit, to its existing shareholders.The Public Investment Fund (PIF) is Almarai’s second biggest shareholder with a 16% stake through one of its units.
