Almarai Acquisition of Jordan's Hammoudeh Food Falls Through
Deal News | Mar 18, 2025 | Zawya
Saudi Arabia's prominent dairy and food group, Almarai, announced the failure of its plan to fully acquire the shares of Jordan's Hammoudeh Food Industries for a transaction valued at 263 million Saudi riyals ($70 million). The acquisition was to be executed through Almarai's subsidiary, Teeba Investment for Developed Food Processing Company, and was to be financed by Almarai’s internal cash flows. However, the deal fell through as the seller was unable to meet specific conditions necessary to finalize the transaction. Despite this setback, Almarai expressed its continued interest in seeking out future expansion opportunities.
Sectors
- Food and Beverage
- Mergers and Acquisitions
Geography
- Saudi Arabia – Almarai, the company involved in the attempted acquisition, is based in Saudi Arabia.
- Jordan – Hammoudeh Food Industries, the target company, is based in Jordan.
Industry
- Food and Beverage – The article involves Almarai, a major player in the dairy and food sector, and Hammoudeh Food Industries, which operates in the same industry.
- Mergers and Acquisitions – The discussion revolves around an attempted acquisition deal between Almarai and Hammoudeh Food Industries.
Financials
- 263 million riyals ($70 million) – The proposed acquisition price for Hammoudeh Food Industries by Almarai.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Almarai | Bidding Company | Company | A leading dairy and food company in Saudi Arabia attempting to acquire Hammoudeh Food Industries. |
| Hammoudeh Food Industries | Target Company | Company | A Jordanian company involved in dairy and cheese production, which was the target for acquisition by Almarai. |
| Teeba Investment for Developed Food Processing Company | Acquiring Subsidiary | Company | A subsidiary of Almarai responsible for the attempted acquisition of Hammoudeh Food Industries. |