Qatari shareholding firm Baladna has acquired a five percent stake in Egypt’s Juhayna Food Industries Company.
According to a statement published on the Qatar Stock Exchange website, Baladna has acquired close to 47.117 million shares, with a total investment of about $18.28 million.
The investment decision was reportedly part of Baladna’s new expansion plan based on an accurate analysis of the large and promising Egyptian market for the food and beverage sector, which has a population of over 100 million.
Juhayna is expected to earn more in the light of projected market growth and the availability of a strong supply chain.
Juhayna Food Industries is a leading Egyptian manufacturer specializing in the production, processing and packaging of dairy products, juices and culinary products. Since its formation in 1983, the firm has been at the forefront of Egypt’s dairy and juice industries and has expanded its presence in the Middle East.
Incorporated in 2019, Baladna public shareholding company offers overall management, supervision, and strategic support to its subsidiary, Baladna Food Industries (BFI), Qatar’s largest dairy and beverage producer, which supplies over 85 percent of the country’s fresh milk.
Baladna has also signed a Memorandum of Cooperation (MoC) with Inter Plastic, one of the leading plastic packaging factories in Qatar, to supply plastic packaging materials, that meet international standards and are locally manufactured.