Qatar’s premier investor in the food and agri-business sectors, Qatar Investment Authority (QIA) backed Hassad has successfully acquired a 25% equity stake in Canadian Sunrise Foods International.
The deal was completed as both parties performed all the requirements under the share purchase agreement.
Hassad CEO Mohamed al-Sadah stated, “It is our pleasure to announce the successful closure of the Sunrise Foods International acquisition.”
He also insisted that the deal was in line with the company’s investment strategy, and contributes to achieving food security for the State of Qatar.
Hassad’s CEO further elaborated that the demand for organic products in the global markets continues to grow, and Hassad will benefit considerably over the coming years from this investment, on both the commercial and strategic sides.
Sunrise Foods International
Sunrise Foods, the world’s largest supplier of organic grains and oilseeds is based in Canada. It markets its products in the United States as well as to European markets. The company has facilities in the United States, Canada and Turkey, and its business spans from the Black Sea Region across Europe to North America.
Established in 2008, Hassad Food is a wholly-owned subsidiary of Qatar Investment Authority (QIA) with a vision to be a successful strategic investor in the global food and agriculture value chains.
Hassad has diverse vertical investments in Qatar, Australia and Oman with potential future investments in other locations.