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FINANCIAL NEWS
Saudi OFC buys 51 percent stake in Gulf Union
14 Jul 2014
(MENAFN) Saudi Arabia-based Olayan Financing Co (OFC) has bought 51 percent stake in Gulf Union Foods Co (GUFC) from a group of investors, mainly the private equity firm Jadwa Investment, according to Arabian Business.
The purchase price and the identities of the other investors were not mentioned in the statement.
GUFC is one of the leading players by market share in the Gulf’s juice manufacturing business.
OFC manages the Saudi Arabian and Middle Eastern investments of the Olayan Group and has around 40 affiliated businesses, including joint ventures with multinationals such as Coca Cola, Kimberly-Clark and Colgate-Palmolive, according to its website.
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