GFH to acquire a leading food services and logistics company in Saudi

TDT | Manama    

The Daily Tribune – www.newsofbahrain.com

GFH Financial Group yesterday announced that it has signed to acquire a leading food services and logistics business in Saudi Arabia which has an enterprise value of c. SAR 500 million.

The announcement was made at the 7th edition of the Future Investment Initiative yesterday in Riyadh.

The Company boa ts cross-country state-of-the-art integrated warehousing and supply chain operations, an extensive premium product portfolio, and a diverse base of 1000+ blue-chip customers including renowned HORECA players and retail brands in the Kingdom.

Furthermore, it enjoys long-standing relationships with circa 200 international aggregators and producers. Razi Al Merbati, CEO of GFH Capital S.A., said, “With a strong pipeline of cross-sector opportunities in place, we are focused on expanding our portfolio of unique, income-yielding assets in defensive sectors, including the consumer and logistics industries, some of the fastest growing in the Kingdom today.”

Adding, Hammad Younas, Chief Investment Officer – Private Equity at GFH, said, “Once acquired, we look forward to working with the exceptional management team of the Company to add value to the business and support the growth of the sector through multiple organic and inorganic growth strategies including geographic and portfolio expansion, vertical integration, enhancing of warehousing and logistical capacity, and the realization of cost efficiencies throughout the value chain.”

CEO of the Company, Shafqat Khan, said, “With the support of GFH as our partner, we aim to invite our foreign suppliers to set up facilities in KSA, wherever possible.