The biggest dairy company in the Middle East region, Almarai, has announced it would buy Binghatti beverages Manufacturing’s production facility in the UAE for AED215million even as it continues to expand its product range and dominance in regional F&B space This acquisition will enhance Almarai’s ability to serve its customers by expanding the range of beverage products in the region. Binghatti Beverages is part of Dubai-based Binghatti Holding.
The value of its real estate portfolio exceeds AED3.5billion, according to the company’s website. Almarai has been on an acquisition spree to diversify its product range as the Middle East region sharpens its focus on food security. Almarai’s first-quarter net income rose slightly to 385.9m riyals (US$103m) on a 1.46% increase in revenue to 3.64bn riyals. Last month, Almarai’s subsidiary Western Bakeries Company bought an additional stake in Modern Food Industries for 150m Saudi Riyals ($40m).