HC Acted as The Sole Financial Advisor to Almarai
June 11th, 2009 – Almarai, the leading GCC dairy and juice producer, announced today that it has acquired the International Company for Agro-Industrial Projects, known as “Beyti” for a total consideration of EGP 645 million. Beyti is a producer and distributor for a wide variety of dairy products owning a production facility located on the Cairo – Alexandria Road; as well as 185 feddans of the adjacent land to the factory and other business related assets.
HC Securities & Investment acted as Almarai’s exclusive financial advisor on this important transaction that took more than a year of due diligence, structuring and negotiations until the definitive agreements were signed. “It was a lengthy process but we managed to take it to a successful end. We consider Almarai’s acquisition of Beyti a landmark transaction in the regional Food & Beverage sector as well as a milestone in the regional expansionary plan of Almarai. This transaction is definitely one that we are very proud of due to the value added that we believe Almarai will bring in to the Food sector in Egypt.” added Rana Durra, Vice President, HC Securities & Investment. Baker & McKenzie and Deloitte acted as Almarai’s legal and accounting advisors, respectively.
With sales of SR 5,029.9 million and net profit of SR910 million in 2008, Almarai is considered to be a pioneer in the dairy sector across the GCC region, owning production facilities in Saudi Arabia – where the company is based – and currently exporting its products across the region. Almarai Company operates across the diary liquid, dairy food, juice and bakery categories serving over 42,000 customers with a fleet of over 2000 chilled vans and 92 depots. The company’s annual milk production capacity reached 750 million liters in 2008.
HC’s Investment Banking team is active in developing innovative financial solutions and executing complex assignments including mergers and acquisitions, debt and equity public offerings and corporate restructuring. With multiple operations in Egypt and the UAE, HC provides its clients with a wide range of services in Investment Banking, Asset Management, Securities Brokerage, Research and Custody.