Al Minem Foods acquires Du and Supreme for 20.5 million euros
Al-Munajim Food Company signed a binding agreement with France Poultry to acquire the intellectual rights of the two international brands. "Du" and"Supreme" In Saudi Arabia, the Gulf Cooperation Council countries and Yemen.
The company said in a statement on the website "Saudi Arabia trading"The value of the acquisition is 20.5 million euros, noting that the fairness of the evaluation has been verified based on independent evaluation reports issued by two independent and specialized consulting bodies.
It is considered a mark "Du" A leading brand in the poultry sector in the Kingdom of Saudi Arabia for more than fifty years, the company expects that this acquisition will have a positive impact on the growth of its business and the strengthening of its assets, in addition to maximizing the value of the company’s investment in Baladi Poultry Company.
It should be noted that France Poultry is a French company headquartered in Chateaulin – France, wholly owned by Abdullah Al Ali Al Minejm Sons Company, which is a related party. The trademark assignment agreement was concluded in accordance with the relevant laws and regulations, and without granting any conditions or benefits. Preferential.
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