Almarai buys additional stake in Pure Breed Poultry for SAR 20 mln

03/04/2018 Argaam

Almarai Co. has raised its stake in Pure Breed Poultry Co. by 14 percent for SAR 20.3 million, bringing the dairy producer’s holdings in the company to a controlling stake of 55.9 percent.

 

The acquisition will strengthen Almarai’s poultry supply chain, the company said in a statement to Tadawul on Monday.

 

The deal, which was fully financed by Almarai, is expected to have an impact on the firm’s Q2 financial results, the statement added.

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