AlBabtain Food board proposes investing in Saudi chocolate factory

22/08/2024 Argaam
Logo ofAbdulaziz and Mansour Ibrahim AlBabtain Co. (AlBabtain Food)

Logo of Abdulaziz and Mansour Ibrahim AlBabtain Co. (AlBabtain Food)

Abdulaziz and Mansour Ibrahim AlBabtain Co.’s (AlBabtain Food) board of directors recommended investing in a chocolate production factory in Saudi Arabia and carrying out the required due diligence to determine the investment's value and percentage.

 

In a statement to Tadawul today, Aug. 22, the company said the move shall come as part of its strategic expansion plans to boost profitability.

 

For more news and details on the projects

 

The chocolate industry is deemed promising, with steadily growing demand in the local market, the statement added.

 

AlBabtain Food also noted that this investment would support its foray into foreign markets.

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