Abdulaziz Alsaghyir Holding Company (AAHC) – one of the most prominent Saudi companies specialized in the investment, contracting, building materials and real-estate development sectors – intends to pump new investments of about SR one billion in the food sector throughout the next five years. In accomplishment of this target, “Abdulaziz Alsaghyir Holding” shall be establishing a new limited liability company to be called “Abdulaziz Alsaghyir Foods Co. ltd” which is scheduled to operate in three main fields, namely: manufacturing, distribution and retail.
Hisham Alsaghyir, CEO and Board member of Abdulaziz Alsaghyir Co. said: “In fact the outstanding successes achieved by our company on the local level in unanimous investment fields motivated us to take further expansion steps towards investing in new sectors – on head and above of which came the Saudi Food sector together with a range of international and regional markets.”
He further indicated that the new company shall work to cement its presence among the food sector whether by establishing new specialized companies or via acquisition – either full acquisition or at least acquisition of the majority shares of companies active in this field.
Likewise, the CEO highlighted that “Abdulaziz Alsaghyir Foods Co. ltd” had allocated a total of one billion Saudi Riyals to be invested in course of the next five years so as to implement a number of acquisition transactions in regional and local markets. He additionally stressed that the company enjoys such a powerful financial position that perfectly enables it to finance the intended acquisition transactions either through self-financing or by means of obtaining credit facilities from the financing banks.
Alsaghyir moreover mentioned that the company is currently in the process of studying and evaluating some of the available opportunities whether in terms of full acquisition or by acquiring the majority shares of a number of Saudi and UAE companies. He added explaining: “We’ve entered into advanced negotiations with one of Saudi Arabia’s meat manufacturing companies and we’re about to finish the financial and technical inspections of this transaction. In this regard, we actually expect to sign the final acquisition agreement during the first quarter of the current year.” However, the CEO didn’t disclose the names of those companies but just hinted saying: “They are all indeed major and important opportunities”
The CEO and Board member of Abdulaziz Alsaghyir Holding explained that the Food sector is considered one of the world’s rapidest development sectors and is estimated to worth up to US $ 5 trillion. Even more, the expectations indicate that the Kingdom and GCC’s imports of the food products shall more than double in the next decade which makes investment in this sector a crucially strategic issue.
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Abdulaziz Alsaghyir Holding
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