Almarai Company is a global Saudi dairy firm listed on the stock exchange of Tadawul. It focuses on the manufacture and distribution of food and beverages. In Riyadh, Saudi Arabia, the company’s main offices are located.
Almarai milk company literature states that, before growing its operations dramatically in the past three decades, the dairy enterprise-founded by Irish Agri Pioneers Alastair and Paddy McGuckian-started out with 400 cattle. Today, the company is the world’s largest vertically integrated dairy company, accounting for more than 250,000 cows.
Since 2009, the company has mainly cooperated with PepsiCo and has purchased much large business. The Irish brothers Alastair McGuckian and Paddy McGuckian and Prince Sultan bin Mohammed bin Saud Al-Kabir (now Chairman of Council) began their service in 1977. There was little infrastructure during the early years of the company’s existence in the Kingdom of Saudi Arabia for milk production and sales. Prince Sultan bin Mohammed bin Saud Al-Kabir recognized the prospect of increased milk production and logistics in the region and in the broader Middle East. In the Saudi Arabia region, Almarai developed a series of facilities, which initially supported the production and distribution of milk by local farmers.
By implementing promotions on other dairy products like Almarai juice and Almarai cream rather than just milk, Almarai started to diversify its portfolio in 2006. In early 2007, Almarai signed a memorandum of understanding with its approved partners at the Western Bakeries Company Limited with a view to the acquisition of up to 100% owning rights in these businesses. This agreement was signed with Almarai in order to raise the number of households that have purchased cheese on a regular basis. Then increase the company’s capital to (1,090) million Rials of Saudi Arabia. The capital at present amounts to 8 billion SR.
In 2010, Almarai and PepsiCo announced the establishment of an International Dairy and Juice Limited (IDJ) joint venture. They announced that the Foreign Agro-Industrial Projects Company of Egypt (Beyti) will be purchased. The company specializes in milk and juice products, including UHT milk, flavoring yogurt, cheese, and a number of juices. The brand name was known in Egypt and continued to exist under its name as a subsidiary of the joint undertaking of IDJ. This was after Hail Agricultural Production Co. was acquired.
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The business expanded steadily between 2006 and 2016. The overall numbers of its workers are estimated to have reached 38,000, indicating that the firm produced over 30,000 jobs over the course of a decade. Subsequently, in 2016, Almarai announced that it will purchase land in the US to expand its agricultural activities. The land would have been purchased at a certain number of places, mainly in California, USA. Savola’s share of Almarai had been declared in 2017 to be reduced by two percent.
The sovereign-wealth fund of the Kingdom announced that it would buy a substantial portion of Almarai at the end of 2017. At 2 billion dollars, Bloomberg priced its investment. Saudi Arabia has been called a move to separate its portfolio from oil investments by the Saudi Arabia Wealth Fund. With shareholders, the movie turned out to be optimistic, as shares increased 4% after the announcement.
Saudi Arabia has confirmed that Almarai is the third consecutive year’s most successful brand in 2018. As per a survey by the UK market research firm Yogev, Almarai announced plans to invest $3 billion in manufacturing plants in the Middle East earlier this year.