Bahraini GFH Capital to buy top food producer for USD50m
07 Dec 2015
(MENAFN) GFH Capital, a subsidiary of GFH Financial Group, the Islamic investment bank with headquarters in Bahrain Financial Harbor, will purchase a bread and sweets producer in Saudi Arabia for nearly USD50 million.
The acquisition is well in line with GFH’s objectives to enhance their investment portfolio in the Saudi market where it sees significant opportunity mostly in sectors such as this where growth is driven by strong consumer demand.
Accordingly, Saudi Arabia is home to the biggest population in the GCC at 29.8 million, and growing at a healthy Compound Annual Growth Rate between 2010 and 2014 of 2.4 percent, let alone a growing disposable income per capita.
“We’re pleased to announce this new acquisition in Saudi Arabia’s consumer goods market, one of the fastest growing and best performing sectors in the Kingdom,’ stated the managing director of GFH Capital.