Almarai Company, Saudi Arabia's biggest listed dairy firm, is studying more acquisition opportunities in Egypt after spending $115 million last month to buy an Egyptian company and its farmland
In addition to being a key player in the Saudi poultry business, Hadco produces olives, wheat, dates and grass fodder. Almarai has its own cattle farms.
Saudi-based Almarai has agreed to buy Egyptian firm Beyti for $115 million, allowing a new joint venture with Pepsico to set foot in the Arab world's most populous nation. The price tag includes a 75-hectare piece of land.
"Saudi Arabia is increasingly looking for agriculture investment opportunities abroad, mostly in Africa," reports the US mission in Riyadh in May 2009
A consortium of Saudi agricultural companies is looking to invest 150 million riyals ($40 million) into food production in Africa, the Agriculture Ministry said on Sunday.
