Almarai completes Bakemart buyout in UAE, Bahrain

13/01/2022 Argaam

Almarai office

Almarai Co. concluded the sale and purchase agreement with the shareholders of Bakemart to acquire 100% of Bakemart UAE and Bahrain for AED 93.5 million (SAR 95.5 million), according to a bourse filing.

 

According to data compiled by Argaam, Almarai signed on March 15, 2021, an agreement with the shareholders of Bakemart UAE and Bahrain, to acquire 100% of their shares, for an enterprise value of AED 93.5 million (SAR 95.5 million).

 

Bakemart produces frozen bakery items for the food services and retail industries sector in the Middle East.

 

For More Mergers and Acquisitions

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