During an eventful year of strategic progress and outstanding achievements, Almarai continued to invest across its business segments and geographic footprint to drive stronger and sustainable growth today and for the years to come.
Feb
Acquisition completed of International Dairy and Juice (IDJ) for SAR 255 million (USD 68 million)
Almarai purchased PepsiCo’s 48% ownership in IDJ to increase its shareholding from 52% to 100%, for a total consideration of SAR 255 million (USD 68 million).
Mar
HRH Prince of Hail inaugurates two food factories for the Almarai Company in Hail
HRH Prince Abdulaziz Bin Saad Bin Abdulaziz, Governor of Hail region, inaugurated the bakery factory and the expansion of the Almarai poultry factory (the third poultry factory) in Al-Shannan Governorate, Hail region.
Jul
Successful Sukuk raised USD 750 million
Almarai raised SAR 2.8 billion (USD 750 million) from the sale of its USD-denominated trust certificates under its USD 2 billion Trust Certificate Issuance Program.
Sep
Ranked fourth most valuable dairy brand globally
Brand Finance, the world’s leading brand valuation consultancy, ranked Almarai the world’s fourth most valuable dairy company in 2023, after the value of the Almarai brand rose 24% year-over-year to reach USD 3.4 billion, according to Brand Finance’s world brands report 2023.
Oct
Investment to increase fresh bakery capacity and enter frozen bakery segment
Almarai approved an investment of SAR 405 million to expand its Bakery segment and maintain momentum of recent growth in the Kingdom of Saudi Arabia and other key markets.
Dec
Acquisition of Etmam Logistics for SAR 182 million
The acquisition will enhance Almarai’s ability to serve its customers with an expanded range of frozen products across the Kingdom of Saudi Arabia. This will accelerate the development of its Foodservice operations by enabling a broader product offering, drive growth in its Poultry business with increased penetration of the frozen category and provide a footprint for expansion into other frozen categories in the future.
