GAC approves Nofoth’s acquisition of 65% stake in Plenty Food

Logo of Nofoth Food Products Co. 

Nofoth Food Products Co. received the General Authority for Competition’s (GAC) no-objection for the acquisition of a 65% stake in Plenty Food Co. LLC, dated Sept. 1.

In a statement to Tadawul today, Sept. 2, the company said the approval is one of the conditions precedent to completing the transaction.

It added that completion remains subject to fulfilling the other conditions stipulated in the share purchase agreement (SPA), as well as any relevant regulatory requirements.

Nofoth confirmed that there is no change to the transaction consideration previously announced.

The company will announce the completion of the transaction and any other material developments in due course, it noted.

According to Argaam data, Nofoth signed a SPA in August 2026 to acquire a 65% stake in Plenty Food for a fixed consideration of SAR 52.7 million, in addition to a conditional consideration of up to SAR 3.25 million, bringing the total potential consideration to SAR 55.95 million.