Ghida Al-Sultan signs SAR 3M digital brands partnership deal

Ghida Al-Sultan is expanding into digital food brands through a new partnership.

Ghida Al-Sultan Co. signed, on April 8, a partnership agreement with Saud Al-Arifi to establish a limited liability unit, specializing in setting up and managing digital brands in the food industry, according to a statement on Tadawul.

Under the agreement, Ghida Al-Sultan will own 66.66% of the company owned by the second party, Brand Developers Co., while Saud Al-Arifi will hold a 33.34% stake.

The total value of the agreement, SAR 3 million, will be injected by partners as an interest-free loan to support operational activities. Ghida Al-Sultan will contribute SAR 2 million, while Al-Arifi will contribute SAR 1 million, with the company’s share to be funded from its internal resources.

The agreement aligns with the company’s expansion strategy, while leveraging the other party’s operational and managerial expertise to develop the sector across the Kingdom. The agreement remains subject to obtaining the necessary regulatory approvals.

The relevant financial impact will likely appear upon launching the new digital brands.

Board member Naif Al-Arifi has an indirect interest due to his relation to the second party. The agreement was concluded within the ordinary course of business without any preferential terms.