Palson ME ties up with multinational food wholesaler, MiquelAlimentacioGrup

Through the business collaboration, Palson ME will act as the exclusive distributor of Miquel Group's wide range of condiments in the region.

The agreement comes in line with Miquel Group's expansion strategy into the GCC, which research estimates will increase its food imports from an existing $29.0bn to $53.1bn by 2020.

The multinational company plans to distribute its own food brands which include Gourmet and SaborEspanol, a range of products typicalof Spanish gastronomy such as oils, preserves, vinegars and more through Palson's existing distributors as well as other channels.

The collaboration is a first for both companies, as Palson ME expands its business into the food sector for the first time having lead the household appliances industry for 34 years, and a first for Miquel Group in trading to the region in its more than 80 year history. For Palson ME and Miquel Group alike, the move marks an exciting new opportunity to tap into a market that, due to rapid urbanization and an above average per capita income of $26,700 per annum, is seeing a rising popularity of high quality processed foods.

Marking the partnership, Mr. Iqbal Hussain, Managing Director of Palson ME said: "We are delighted to join hands with Miquel Group as their exclusive distributors in the GCC. Miquel Group's global brand presence and extensive expertise, along with Palson ME's long presence and understanding of the local market means we look forward to a long and mutually profitable partnership."

Ramon Miquel, CEO of MiquelAlimentacio, added: "Expanding our geographic presence in the GCC is part of our strategy to leverage our brands and to expand our products around the globe. We believe Palson ME has a well-established distribution network in the GCC and Middle East, in depth local expertise and a professional management team. We are delighted to partner with Palson ME to bring MiquelAlimentacioGrup to the region. We are confident this new relationship will successfully develop the presence of our brand in the Middle East."