Almarai Investment Holding has finalized its purchase of PepsiCo’s 48% ownership in Beyti in a SAR 255 million deal, which accounts for almost $68 million.
This increases Almarai’s shareholding from 52% to 100% in International Dairy and Juice Limited (IDJ). IDJ is a joint venture between Almarai and PepsiCo, its main activities consisted of food & beverage manufacturing & distribution in Egypt and Jordan, as well as exporting to many countries worldwide.
PepsiCo has remained a trusted and valued partner since the formation of the joint venture in 2009, however, the full ownership of IDJ will allow Almarai to further expand strategically in the wider region. The purchase amount was funded from Almarai’s internal cash flows.
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