Abu Dhabi-based Ghitha Holding, through its subsidiary Al Ain Farms for Livestock Production, has signed an agreement to acquire full assets of Arabian Farms Investments.
The agreement is for assets across Saudi Arabia and the UAE. Ghitha informed the Abu Dhabi Securities Exchange (ADX) in a mandatory filing that it is paying AED240 million ($65.3 million) for the Saudi-based company.
The completion of the acquisition is subject to share purchase agreement conditions and regulatory approvals.
Ghitha Holding is a trading and distribution firm operating as a retail subsidiary under IHC Abu Dhabi. Founded in 2002, Ghitha Holding is an investment holding company with a portfolio of subsidiaries consisting of Al Ajban Poultry, Alliance Food Company, Zee Stores International, Agrinv (Al Hashemeya), Royal Horizon Holding, Abu Dhabi Vegetable Oil Company (ADVOC), MIRAK, Apex Investment PSC and Al Jaraf Fisheries.
Established in 1978, Arabian Farms is well known for its Saha brand of poultry products, which is widely available in grocery stores across KSA and UAE. The company produces over 270 million eggs annually, and over 8.7 million birds.
Follow us on
