Almarai to Acquire Riyadh-based Pure Beverages Industry for $277 Million

Saudi Arabia's leading dairy and food group, Almarai, has announced its intention to acquire Pure Beverages Industry, a prominent bottled drinking water manufacturer based in Riyadh, for approximately $277.23 million. This strategic acquisition is aimed at expanding Almarai's beverage portfolio in alignment with its growth strategy. The acquisition will be financed through Almarai's internal cash reserves. However, the deal's completion is contingent upon meeting contractual conditions and obtaining the necessary regulatory approvals within Saudi Arabia. Pure Beverages, established in 1979 by Ajlan & Bros Group, owns the well-known Ival and Oska water brands. In the past, Almarai attempted a similar acquisition of Hammoudeh Food Industries which was aborted due to unmet conditions.