Saudi Retailer BinDawood to Acquire 51% Stake in Vaza Food Company
The retail group is expanding into premium confectionery and speciality food segments.
Saudi-based BinDawood Holding Company has signed an agreement to acquire a 51% stake in Saudi-based Vaza Food Company for SR 217.9 million ($58 million), as it expands into premium food segments.
Vaza operates across food manufacturing, retail and distribution, with activities spanning confectionery, bakery and broader speciality food categories.
BinDawood said the acquisition forms part of its strategy to diversify revenue streams by targeting higher value-added segments, including premium confectionery and speciality foods.
The company added that the deal will support greater integration across its value chain by leveraging Vaza’s manufacturing capabilities.
The transaction will be funded through internal resources and available financing facilities and remains subject to regulatory approvals.
