Almarai unit to acquire Jordan’s Hammoudeh Food for SAR 263M

Almarai Co.’s subsidiary Teeba Investment for Developed Food Processing signed an agreement to acquire 100% of Jordan’s Hammoudeh Food Industries for SAR 263 million, subject to certain adjustments, according to a statement to Tadawul.

This acquisition strengthens Almarai’s position in Jordan and aligns with the company’s broader growth strategy announced earlier this year to maintain sustainable growth in core markets.

The acquisition will further help Almarai enhance its ability to better serve customers in the region, expand its operations as well as product range, and leverage operational scale in Jordan to drive both sales growth and profitability.

The transaction will be financed by Almarai’s internal cash flows.

The acquisition remains subject to certain contractual conditions and obtaining regulatory approvals in Saudi Arabia and Jordan.

There are no related parties involved in this transaction, the statement added.

Hammoudeh Food is a well-established dairy and cheese business, with a record of over 50 years in the Jordanian market.
According to the company's data, the export markets for the last three years include Iraq, Yemen, the UAE, Palestine, Bahrain, and the US.