BinDawood Holding finalizes acquiring 51% of Vaza

Logo of BinDawood Holding Co.

BinDawood Holding Co. announced completing the procedures for the acquisition of a 51% stake in Vaza Food Co., in a deal worth SAR 217.9 million.

In a statement to Tadawul, the company added that it finalized the regulatory process related to shares ownership transfer and notarizing the amended Bylaws by the Notary Public. The consideration will be paid as agreed in the Share Purchase Agreement (SPA).

The transaction is expected to have a positive financial impact on the company and its shareholders in the long-term.

It forms part of company’s strategic direction to accelerate growth and advance vertical integration by leveraging Vaza’s established premium brands, advanced manufacturing capabilities and strong market position, while expanding BinDawood’s presence across high demand customer segments and increasing its presence across key regions within the Kingdom.

In addition, the transaction creates opportunities for growth across digital platforms and e-commerce channels while supporting the Company’s omni-channel strategy to enhance customer experience and broaden customer reach to generate and capture synergies.

BinDawood Holding also reaffirmed its commitment to implementing its growth and expansion strategy across its business platforms and supporting the achievement of sustainable long-term returns for shareholders.

BinDawood Holding recently signed a share purchase agreement (SPA) with Faisal Alomaigan, Abdulwahab Aldakhil, Abdulaziz Altuwaijri, Alassas Almatina Co. for Investment and Almal Almustadam Co. for Investment to acquire a 51% stake in Vaza Food for SAR 217.9 million, according to Argaam’s data.

Vaza Food is a Saudi-based food manufacturing, retail, and distribution company, primarily operating in the confectionery, bakery, and food segments. Its core business focuses on the production and sale of premium chocolate and confectionery products under its brand “Pocodor.”