We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 30 Apr 2018 01:59 PM

Font Size

- Aa +

Mitsubishi Corp buys stake in UAE halal frozen food firm

Al Islami Foods says deal will help increase its share in wider global markets

Mitsubishi Corp buys stake in UAE halal frozen food firm

Al Islami Foods, a UAE-based halal frozen food company, has announced that Mitsubishi Corporation has acquired a minority stake.

The decision to partner with Mitsubishi Corporation followed a thorough study by the company into the strategic options for new product development that will help increase the frozen food market share in the GCC and wider global markets, it said in a statement. 

It added that the deal is expected to help Al Islami Foods to grow their footprint in the HORECA (Hotel, Restaurant and Catering) and food service segment within the UAE.

The strategic investment will enable the company to capitalize on Mitsubishi’s well-established distribution in key international markets particularly in Asia, it said.

Al Islami Foods has the second largest market share in the frozen meat products in the UAE and has embarked on an ambitious plan to expand its operations.

The global halal food industry is projected to be worth more than $1.7 trillion by 2020.

Saleh Saeed Lootah, chairman of the board of directors, Dubai Cooperative Society said: “This association with Mitsubishi Corporation is another step in Al Islami Foods ongoing efforts to accelerate growth.

"Mitsubishi provides our company and brand tangible solutions to help with added production capacity that will help accommodate the growing demand for our products both locally and globally. We believe the relationship with Mitsubishi will increase our production by double-digit growth over the next 5 years through a combination of the expansion of our product range and greater exports.”

Arabian Business digital magazine: read the latest edition online

For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.