Silal, Abu Dhabi’s leading food, agriculture, and technology company, has completed the acquisition of a majority stake in SAFCO, a leading food and beverage distributor headquartered in the United Arab Emirates.
Marking Silal’s second acquisition in 2023, SAFCO adds significant commercial capabilities in the import, export and distribution of foodstuffs, underpinned by cutting-edge facilities; a portfolio comprising leading local and international brands; an extensive client base particularly in the hospitality, restaurant and catering segment; and an export footprint spanning 70+ countries across the wider Middle East and Africa regions.
These capabilities ideally complement Silal’s existing operations by extending its reach across the food value chain to encompass production, procurement and distribution. Customers of the combined business are set to benefit from an enhanced portfolio of products and services and Silal’s and SAFCO’s joint commitment to excellence.
Commenting on the transaction, Salmeen Alameri, CEO of Silal, said: “Our acquisition of SAFCO is a pivotal step in enhancing our capacity to meet the market’s demand for a wide range of high-quality food products. The value that SAFCO as a prominent player with a 30-year track record in the UAE’s dynamic food sector brings to Silal is remarkable, and we are committed to harnessing the full potential of this strategic acquisition.”
Ajit Sawhney, Member of the Board, SAFCO, commented on the announcement: “Welcoming Silal as our esteemed shareholder marks an exciting new chapter in SAFCO’s journey. Silal has rapidly emerged as a driving force in transforming our nation’s food industry. We are confident that we will be able to make meaningful contributions and thank the Silal management for the trust placed in our expertise and potential.”
Silal was established in September 2020 to diversify sources of food products and stimulate manufactured and agri-food sectors. The company manages procurement programs and strategic stocks of foodstuffs, while also executing specialised knowledge transfer programs on desert farming techniques and devising research and development projects.
Aligned in their pursuit of building a resilient food sector, Silal and SAFCO will work in tandem to deliver high-quality solutions and tangible stakeholder value.