Al Islami Foods signed a major joint venture agreement with Neat Foods Private Limited to cater to the Pakistan’s growing fast food market.
The agreement, signed at a ceremony held at Al Islami stand at Gulfood 2012, spans over 10 years of time period and is automatically renewable for the next term as agreed between Al Islami and M/s Neat Foods Group from Pakistan.
Under the terms of the agreement, M/s Neat Foods will be the sole partner of Al Islami in Pakistan to develop and re-export Al Islami products in Pakistan and in the international market.
“Our survey of Pakistan’s fast food market has shown very interesting potential for Pakistani market. We are committed to export the same highly quality of products that we are offering in the GCC markets. We are very much confident that it is a good opportunity and time to enter Pakistan’s growing fresh and frozen food market”, said Saleh Abdullah Lootah, Managing Director of Al Islami Foods.
“We are delighted to partner with such a reputed company of UAE. The synergy of two like-minded and Sharia compliant business groups will generate more potential for both the companies across the Middle East”, said Shafay Hussain, Chairman of Neat Foods.
The ceremony was attended by Saleh Abdullah Lootah, Managing Director of Al Islami Foods; Shafay Hussain, Chairman of M/s Neat Foods; Hamid Badawi, Deputy Chief Executive of Al Islami Foods, Joachim Yebouet, Chief Operating Officer of Al Islami Foods, along with senior executives from M/s Neat Foods and Al Islami Foods.