“Bin Dawood” completes the acquisition of 51% of “Faza” for 218 million riyals

Company announced "Bin Dawood Holding"Today, Monday, the procedures for acquiring 51% of the company’s shares were completed "Fazza Food"And the completion of the regulatory procedures related to the transfer of shares, the documentation of the amended bylaws with a notary public, and the payment of the financial consideration as agreed upon in the sale and purchase agreement.

The total value of the acquisition amounted to 217.9 million riyals, while the deal is expected to have a positive financial impact on the company and its shareholders in the long term.

This deal comes within the company’s strategic direction aimed at accelerating the pace of growth and enhancing vertical integration, by taking advantage of the brands Fazza’s distinguished business, advanced manufacturing capabilities and strong position in the market, in addition to expanding the company’s presence among high-demand customer segments and enhancing its spread in the main regions within the Kingdom.

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