Almunajem Foods Acquires 23% Stake in Balady Poultry for SAR 181.3 Million

Almunajem Foods Co. announced on Tuesday that it has entered into a binding share purchase agreement to acquire 1,511,100 shares, representing 23% of Balady Poultry Trading Company, from major shareholders at SAR 120 per share, totaling SAR 181.3 million.

The agreement is subject to several pre-closing conditions, and the transaction will proceed once the necessary regulatory approvals, including those from the General Authority for Competition, are obtained. Once finalized, Almunajem Foods’ ownership in Balady Poultry will increase to 40%.

The company stated that the acquisition would be financed through a combination of internal resources and external funding.