August 7, 2019
Saudi Arabia's biggest dairy company now controls 93.5% of major chicken meat producer
Almarai, Saudi Arabia's biggest largest dairy company, has expanded its stake in Pure Breed Poultry in a deal which will help "further strengthen the poultry industry in Saudi Arabia and GCC (Gulf Cooperation Council), and secure its supply of poultry parent stock," the company said.
Almarai's stake increased by 37.6% (SAR52.9 million, or US$14.1 million) to 93.5% of Pure Breed's share capital. Its third-largest source of revenue is poultry which accounts for 15% of its first half sales.
Pure Breed is the biggest producer of chicken breast meat in Saudi Arabia, according to its website, with a production capacity of 5,000 kilogrammes per year. It has been in business since 1991 and employs 300 staff.
- The National