Abu Dhabi Developmental Holding Company has acquired a 50% stake in Al Dahra Holding Company, which operates a landbank of 350,000 acres of irrigated land with direct access to various rivers such as the Danube, Colorado and Nile rivers.
UAE: ADQ to buy 50 percent stake in agri-food company
The Abu Dhabi Developmental Holding Company (ADQ) said it has agreed to acquire a 50 percent stake in Al Dahra Holding Company which specializes in animal feed and essential food commodities.
This comes in a move that will expand the scope of ADQ’s agri-food investments which also includes Agthia PJSC, Al Foah Company and Silal.
Al Dahra specializes in the cultivation, production and trading of animal feed and essential food commodities and end-to-end supply chain management.
It has a workforce of 5,000 employees who are present in over 20 countries and caters to more than 45 commercial markets.
Al Dahra operates a landbank of 350,000 acres of irrigated land with direct access to various rivers such as the Danube, Colorado and Nile rivers, employing the latest irrigation technologies and modern farming machineries.
For his part, Mohammed Hassan Alsuwaidi, Chief Executive Officer of ADQ, said: "Food and agri-business is of importance to ADQ’s strategy because it is high growth and important for Abu Dhabi’s socio-economic agenda. Since 1995 when Al Dahra was founded in the UAE, it has grown into a global food and animal feed company and is a pillar of Abu Dhabi and our country’s food security mandate.
Al Dahra will complement our existing efforts to extend ADQ’s reach in food production and distribution. With our investment, Al Dahra will be well positioned to further expand its reach and footprint while enabling Abu Dhabi to reach its goals of continuing to diversify its food sources and growing into a regional food hub."
Meanwhile, Vice-Chairman and Co-founder of Al Dahra Holding Khadim Al Darei said: "With ADQ’s wide scale operations and world-class resources, Al Dahra will benefit from a strong and reliable partner and will be better positioned to leverage the group’s expertise to execute on the government’s food security mandate, which become an even greater priority than ever before," WAM reported.
Al Dahra operates three rice mills with capacity to supply 500,000 tonnes annually in India, Pakistan and the UAE and also owns shares in three flour mills in Greece and Bulgaria that have the capacity to supply 500,000 tonnes annually.
Additionally, the company has an olive oil production plant in Morocco with an annual production capacity of 10,000 tonnes, and dairy farms in Serbia and the UAE with 20,000 cows and a production capacity of 80 million liters of milk annually.