Home » Green Corp announces acquisition of Jeddah-based Emad Bakeries

Green Corp announces acquisition of Jeddah-based Emad Bakeries

by Madaline Dunn

GreenCorp has announced that it has acquired Emad Bakeries, an industrial bakery in Jeddah, Saudi Arabia, strengthening its food-focused investment platform within the GCC.

Gulf Islamic Investments (GII) created Green Corp has a mandate to invest in high-growth, demand-driven, scalable and sustainable food businesses across the GCC.

Emad Bakeries, meanwhile, operates the largest industrial fresh flatbread bakery in western Saudi Arabia.

This acquisition will enable the company to expand its operations into new parts of the Kingdom, it was shared.

The strategic acquisition of Emad Bakeries boosts GreenCorp’s investments in food processing operations, adding to the recent expansion of its controlled environment agriculture company Badia Farms in Saudi Arabia, the UAE and Bahrain.

Mohammed Alhassan, co-founder and co-CEO of GII, commented: “Acquiring Emad Bakeries represents a significant step forward in our growth strategy in the Kingdom of Saudi Arabia. We are confident that Emad Bakeries’ heritage and commitment to quality will resonate deeply with our customers in Saudi Arabia”.

Pankaj Gupta, fellow GII co-Founder and co-CEO, said: “Adding Emad Bakeries to Green Corp’s managed portfolio is a strategic move that aligns perfectly our vision of establishing GreenCorp as a comprehensive GCC food investment platform, encompassing the entire nutritional value chain, and enhancing Gulf food security. We aim to make further acquisitions in the Kingdom, as we build Green Corp’s asset portfolio”.

RidgePoint Advisors acted as sole financial advisor to Emad Bakeries, and King & Spalding alongside AlAmmar Law Firm acted as legal advisors.

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