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Mon 15 Jun 2009 03:21 PM

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ANC Holdings expands food division with new acquisition

Firm announces 60 percent majority stake in Oman-based Dhofar Fisheries.

ANC Holdings expands food division with new acquisition
DHOFAR FISHERIES:ANC Holdings announced a 60 percent majority stake in the tuna and sardines packing company. (Getty Images)

ANC Holdings LLC has announced on Monday the acquisition of a 60 percent majority stake in the Oman-based Dhofar Fisheries Industries Company.

The Dubai-based conglomerate will take over management control of the tuna and sardines packing company from Oman & Emirates Investment Holding Company, its other main shareholder.

Dhofar Fisheries is best known for its Blue Ocean brand of tuna and sardines.

ANC Holdings said the acquisition was part of the firm’s plans to rapidly expand its Freshly Frozen Foods (FFF Dubai) division.

Tayeb Baker, chairman, ANC Holdings said: “The closing of this transaction is the next step in ANC Holdings’ strategic growth into the regional food processing and distribution business.”

FFF Dubai currently operates a factory in Dubai, with four processing lines for meat, shrimps and ready meals for three main brands – Aashiana, Senora and Freshly Frozen Foods.

The company exports food to the US, Europe, Far East and Asia and is in the process of launching its Bay Leaf restaurant brand.

Awad Bamkhalef, CEO of O&E and chairman of DFIC, said: “O&E was on the lookout for a strategic partner with similar food interests to help lift the performance of Dhofar Fisheries. ANC Holdings was seen as the partner of choice due to its vast capabilities and experience.”

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