Hassad Food, Qatar's premier investor in the food and agriculture sectors, has acquired a significant minority equity interest in A'Saffa Foods company of Oman.
The transaction, which was announced Monday in Muscat, was concluded and signed by Hassad Food Chairman Nasser Al Hajri, and Mohamed bin Obaid Al Mazrouei, chairman of the Arab Authority for Agricultural, Investment and Development, the strategic sponsor of A'Saffa.
"We are very excited about this acquisition which is a strong testament that Hassad Food is on the right track towards achieving its vision in becoming a leading global provider of high quality food products," Al Hajri said.
"Hassad's mission is to invest in efficient, profitable, growth-oriented global brands, contributing to the welfare of Qatar and the region by providing high quality products while using the latest technology in harmony with the environment and adhering to the highest standards of corporate social responsibility. I am confident that this partnership is in line with what we are trying to achieve in supporting the economic development and integration with the GCC market," he added.
In turn, A'Saffa Foods Chairman Saleh Mohammed Al Shanfari expressed his delight at the deal. "A'Saffa Foods has managed to establish its presence regionally and now it has become amongst the top respected food companies in the GCC; To have a strong partner shareholder on board like Hassad Food of Qatar, I am confident that the company will further progress its way to an even stronger presence globally which will impact positively on our shareholders of the company." A'Saffa Foods (formerly A'Saffa Poultry Farms) was established in 2001 and is the largest integrated poultry project in Oman, extending over a 40 square kilometer farm area in Thumrit, southern Oman. It produces high quality fresh and frozen poultry meat products and its 100 percent owned subsidiary produces value added processed meat products.