First Mills Acquires Al Manar Feed Limited for SAR 77 Million

First Mills announced on Tuesday the signing of a final agreement to fully acquire Al Manar Feed Limited for SAR 77 million, according to a statement on the Saudi Stock Exchange (Tadawul). The acquisition includes transfer of ownership of the factory, as well as all rights, assets, and licenses held by Al Manar Feed.

The company stated that the acquisition aligns with its strategy to strengthen feed production capabilities. It will add a daily production capacity of 450 tons, raising First Mills’ total capacity to 1,350 tons per day. The expansion aims to meet rising demand in local and regional markets, broaden geographical reach, diversify income streams, and enhance the product portfolio, thereby increasing shareholder value.

Financing will be secured through Sharia-compliant banking facilities, available cash flow, and other financing programs. All necessary approvals have been obtained, alongside regulatory and commercial conditions for completion.

The financial impact of the acquisition is expected to be reflected in First Mills’ results from the third quarter of 2025, following consolidation of the company’s financial statements.