Al Islami clinches deal with UK giant
by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 26 September 2007
Halal food producer Al Islami Foods has set up its European hub, after signing a strategic joint venture with UK-based foodservice distributor 3663 First for Foodservice.
The deal will incorporate catering to clients in Britain, Germany, Belgium, the Netherlands, and Luxembourg.
The company has established its processing unit - set to produce up to 600 tonnes of fresh and frozen meat monthly - in Manchester, scheduled to start production in November this year.
Sales of US $80 million in 2008 have been predicted, and AED2.2 billion (US $600 million) in the next five years. The move has targeted Muslim communities in Europe, in a bid to create the company's ‘Real Halal' benchmark.
The company aims to tap the potential in Europe's Halal market, currently estimated to be worth AED58.76 (US $16 billion).
Saleh Abdullah Lootah, CEO of Al Islami Foods said Halal had become a global phenomenon, with unprecedented demand witnessed for products. He added the company adheres to social responsibility standards, and intends to provide ‘Real Halal' food to people of all religions worldwide.
The venture is likely to present a major expansion vehicle for Al Islami Foods, with 3663 First for Foodservice recording annual sales of AED7.36 billion (US $2 billion). The company delivers ingredients, finished products and equipment to the food industry from its 1.84 million ft² at 40 depots across the UK.
The British company has a 6800-strong workforce, a fleet of 1100 vehicles and 50,000 customers in the UK.
READERS' COMMENTS
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST RETAIL
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST RETAIL
LATEST MIDDLE EAST BUSINESS NEWS
- Banking & Finance: Investors cautious as dividends push ME markets up
- Energy: Abu Dhabi to sign $2bn in onshore oil contracts
- Banking & Finance: Oman's Vision eyes infrastructure growth fund
- Banking & Finance: Rising loan provisions 'natural' - UAE central bank
- Banking & Finance: Bahrain's GFH chair faces $125m property lawsuit
SHARE PRICE CHECK
RELATED STORIES
Al Islami Foods
- Halal giant tackles obesity
26 Jun '08 | News - Al Islami Cart business franchise premiers
20 Apr '08 | News - Union Coop seals Meat Shop deal
27 Feb '08 | News





