BinDawood Holding inks SPA to acquire 51% stake in Vaza Food for SAR 217.9M

BinDawood Holding says Vaza reported SAR 93.1 million revenues in 2024

BinDawood Holding Co. signed, on April 6, a share purchase agreement (SPA) to acquire a 51% stake in Vaza Food Co. for SAR 217.9 million.

The Saudi-listed company signed the deal with Faisal Alomaigan, Abdulwahab Aldakhil, Abdulaziz Altuwaijri, Alassas Almatina Co. for Investment and Almal Almustadam Co. for Investment, This transaction will require regulatory approvals, the company said in a statement to Tadawul, noting that the consideration will be subject to certain adjustment based on terms of the SPA.

The deal will be funded by the company’s internal resources and available financing facilities, BinDawood Holding said.

Vaza is a Saudi based food manufacturing, retail and distribution company primarily in the confectionery, bakery and food segments.

The company’s core business is focused on the production and sale of premium chocolate and confectionery products under its brand “Pocodor”. In addition, Vaza operates established bakery and traditional sweets brands, including “La Bonte” and “Badea”, as well as food concepts and brand such as “GRYB”, “Shahwiyat Qandoorah”, and “HLO Coffee”.

Vaza operates through production facilities, cloud kitchens, branded retail outlets and direct to consumer sales channels, including sales through third party aggregators platforms, supported by established quality control and operational systems.

BinDawood Holding explained that Vaza reported revenues of SAR 93.1 million in 2024, and a net profit of SAR 21.5 million during the same year.