Saudi Arabia's Savola Food gets competition authority approval to acquire Bayara
Published 02 Oct,2021 via Arab News – Savola Group’s wholly owned subsidiary Savola Foods Co. obtained approval from the General Authority for Competition to acquire Bayara Holding Ltd, according to a bourse filing.
Savola Foods signed a binding share purchase agreement to acquire 100 percent of Bayara for SR975 million ($260 million) in July. The acquisition will be financed through a combination of operating cash flows and available bank loans.
Bayara is a privately held company with business operating out of Saudi Arabia and the UAE. It is a leading manufacturer and distributor of branded healthy snacks, including raw and roasted nuts, dates, seeds, dried fruits and confectionery, and cooking ingredients, such as herbs, spices and pulses.
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Arab News