Al Faisaliah Group Sells Majority Stake in Al-Safi Food Company to Mezzan Holding
Al Faisaliah Group brought in Baker McKenzie and its associated Firm Abdulaziz I. Al-Ajlan & Partners to assist in the sale of a 70% stake in Al-Safi Food Company to Mezzan Holding, one of the largest FMCG companies in the Gulf region. Al Faisaliah Group will retain a 30% stake in Al-Safi Food Company.
Al Faisaliah Group is a privately-held multi-business group headquartered in Saudi Arabia and serving predominantly the Middle East with activities in over twenty countries. The Group holds leading positions in various sectors: agriculture and food, healthcare, food services, pharmaceuticals, and electronics and systems.
Al Safi Food Company is primarily focused on producing baked goods for retail outlets and the acquisition by Mezzan Holding marks the Kuwaiti listed company's entry into the Kingdom. Al Safi Food Company will provide an exclusive platform for the sale and distribution of Mezzan Holding brands in Saudi Arabia along with Al Faisaliah Group's bakery and snack products.
'We are delighted to have been involved in this strategic market development and look forward to continuing our support of our key client, the Al Faisaliah Group' said Karim Nassar
The Legal Advisors team was led by Karim Nassar and supported by Omar Iqbal and Noura Taher.