Almarai signs SAR 1.04B acquisition deal for Ival, Oska owner

Logo of Almarai Co.

Almarai Co. signed an agreement to acquire 100% of the shares of Pure Beverages Industry Co., the owner of Ival and Oska, in a deal valued at SAR 1.04 billion.

In a statement to Tadawul, Almarai said Pure Beverages is a leading producer of premium bottled drinking water in Saudi Arabia and the owner of the of Ival and Oska brands.

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The company operates advanced facilities equipped with innovative production technologies, adhering to the highest international quality standards and sustainable industry practices.

Almarai stated that this strategic acquisition aligns with its growth strategy to expand its beverage portfolio and strengthen its market presence. The company expressed confidence that the deal will deliver added value to its shareholders.

The acquisition will be financed through Almarai's internal cash reserves. Completion of the transaction remains subject to meeting all contractual conditions and securing the necessary regulatory approvals in Saudi Arabia.

No related parties are involved in the agreement, the company added, noting that any significant developments will be disclosed as they arise.