Search SaudiArabiaPR.com

Home >> Business and Economy

Green Corp acquires Jeddah-based Emad Bakeries to boost its investments in Saudi food processing capabilities and strengthen regional food security

Green Corp acquires Jeddah-based Emad Bakeries to boost its investments in Saudi food processing capabilities and strengthen regional food security

Tuesday, September 24, 2024/ Editor -  

Share

Home >> Business and Economy
  • GreenCorp, powered by a $150 million fund controlled by ultimate owner Gulf Islamic Investments group (GII), extended its food production and processing portfolio by acquiring Emad Bakeries, a leading industrial bakery in Jeddah, Saudi Arabia.
  • This acquisition bolsters the assets managed by GreenCorp, advancing its vision of a unified GCC platform spanning the entire food value chain.

28 March 2024: Dubai, United Arab Emirates: GreenCorp has acquired Emad Bakeries, a prominent Jeddah-based producer of Arabic bread and pastries, in a strategic move that strengthens GreenCorp’s food-focused investment platform within the GCC.

Emad Bakeries operates the largest industrial fresh flatbread bakery in western Saudi Arabia, with state-of-the-art manufacturing facilities. This additional investment empowers Emad Bakeries’ plans to extend its operations and  expertise into new parts of the Kingdom.

Incorporating Emad Bakeries into the GreenCorp portfolio represents a significant step forward for GreenCorp’s food production and processing investment platform backed by Gulf Islamic Investments (GII), a leading Sharia-compliant alternative investment firm with over $4.5 billion of assets under management (AUM).

Green Corp’s mandate is to invest in high-growth, demand-driven, scalable and sustainable food businesses across GCC, creating an integrated food platform across the food value chain to derive sustainable benefits for consumers, and to reduce food import dependency.

The strategic acquisition of Emad Bakeries boosts GreenCorp's investments in food processing operations, adding to the recent expansion of its controlled environment agriculture company Badia Farms in Saudi Arabia, the UAE and Bahrain.  The addition of Emad Bakeries brings fast-growing food production capabilities as a crucial component of the GreenCorp food-related investment platform.

Mohammed Alhassan, co-founder and co-CEO of GII, commented, “Acquiring Emad Bakeries represents a significant step forward in our growth strategy in the Kingdom of Saudi Arabia. We are confident that Emad Bakeries' heritage and commitment to quality will resonate deeply with our customers in Saudi Arabia”.

Pankaj Gupta, fellow GII co-Founder and co-CEO, continued: “Adding Emad Bakeries to Green Corp’s managed portfolio is a strategic move that aligns perfectly our vision of establishing GreenCorp as a comprehensive GCC food investment platform, encompassing the entire nutritional value chain, and enhancing Gulf food security. We aim to make further acquisitions in the Kingdom, as we build Green Corp’s asset portfolio”.

RidgePoint Advisors acted as sole financial advisor to Emad Bakeries, and King & Spalding alongside AlAmmar Law Firm acted as legal advisors.


Previous in Business and Economy

Next in Business and Economy


Home >> Business and Economy Section

Latest Press Release

Snap reveals Saudi National Day's ‘Kingdom's Lenscape' AR Campaign reaches 10 m ...

Ring in 2025 with an Unforgettable Celebration at Zuma Riyadh

Turkish Airlines Sets Guinness World Records™ title for the “Most Countries Flow ...

The Saudi Arabian Football Federation bids farewell to Monika Staab, inspiration ...

ORGATEC WORKSPACE Saudi Arabia from 2025 in Riyadh

Diriyah Company Marks New Hospitality Milestone with the Opening of Bab Samhan, ...

DCO and GCC host 4th Diplomatic Connect to bring digital economy stakeholders to ...

Extreme Lashes, Extreme Style: essence Goes Bold and Blue for the New Year

Get Ready to Shine – Catrice Drops the Melt & Shine Juicy Lip Balms

Almana Hospital Al-Khobar Successfully Completes Complex 16-Hour Maxillofacial S ...

Digital Corporation Organization issues joint statement on Misinformation and th ...

JHAH Leads Dialogue on Population Health and Value-Based Care, Advancing Vision ...

LHG hotels & resorts opens its first VOCO hotel in Jeddah

Zuma Riyadh Officially Opens Its Doors in Saudi Arabia

Dolce&Gabbana unveils luxury boutique and café at Bujairi Terrace in Diriyah

Accio Beauty! SHEGLAM Drops the Spellbinding Harry Potter™ 2.0 Collection

Hilton riyadh hotel & residences announces december promotions with exclusive di ...

Saudi Response Plus Medical provides robust emergency medical cover for Soundsto ...

Prince Mohammed bin Salman Royal Reserve Announces Discovery of Five Species New ...

Cozy Up To Winter with REDTAG's Trendsetting Jackets