HC Securities & Investments acted as co-advisor to Saudi food giant Almarai on the acquisition of 100% shares in Bakemart UAE and Bahrain in a deal worth AED 93.5 million (USD25.5 million).
The transaction remains subject to obtaining certain mandatory and regulatory approvals including the approval of the General Authority for Competition in the Kingdom of Saudi Arabia, The acquisition will further expand Almarai’s bakery product offering and enhance its contribution to the Kingdom’s food security in line with Saudi Vision 2030.
Established in 1977, Almarai is headquartered in Riyadh, Saudi Arabia and is actively engaged in five categories across the Middle East and North Africa (MENA) region: Dairy, Juice, Bakery, Poultry and Infant Nutrition. Almarai is currently the Middle East’s leading food and beverage manufacturer and distributor – and the world’s largest vertically integrated dairy company.
Mohamed Aburawi, head of investment banking at HC commented: “We are pleased to support Almarai on this important transaction in expanding its bakery business. HC has developed a long term relationship with Almarai for over a decade; back in 2009, HC advised Almarai on the acquisition of 100% of The International Company for Agro Industrial Projects “Beyti” marking its entry to the Egyptian market. This transaction also testifies of the HC’s cross-border execution capabilities, in addition to its ability to offer best-in class advisory services and connect investors with best-of-breed opportunities in the region via its offices in Cairo and Dubai International Financial Centre (DIFC)”
HC Securities & Investment
HC Securities & Investment (HC) is a leading investment bank in Egypt and the MENA region. Since its inception in 1996, HC has leveraged its relationship-driven insights, local and regional market knowledge, industry-specific expertise and strong execution capabilities to provide its clients with a wide range of services in investment banking, asset management, securities brokerage, research, custody, online trading and private equity through its offices in Egypt and the UAE (DIFC). HC Investment Banking has an outstanding track record of advising leading corporates in Egypt and the MENA region on M&A, capital market, and financing transactions in excess of USD 5.9bn. HC Asset Management, , now manages 11 onshore mutual funds for commercial banks and portfolios for institutions and sovereign wealth funds with assets under management in excess of EGP 7bn. HC Brokerage is ranked among the top brokers in Egypt and provides a wide array of services, including research and online trading to institutional and retail clients.