Sunday, 11 April 2021; Riyadh, KSA: Almunajem Foods (the “Company”), one of the largest private food companies in Saudi Arabia, today announced that it has expanded on its longstanding collaboration agreement with Seara, a subsidiary of Brazil-based JBS, the world’s leading chicken and beef producer. The agreement forms part of Almunajem Foods’ diversification strategy to service its business-to-business customer base across the Kingdom of Saudi Arabia and to meet the increase in demand from the food industry.
The agreement includes Almunajem Foods distributing a wide variety of poultry products, including whole chicken grillers, chicken parts, and other processed product ranges, to its well-established food services including HORECA (hotel and restaurants) and other non-retail segment.
Eng. Thamer Bin Abdulaziz Abanumay, Chief Executive Officer at Almunajem Foods, said:
“Our collaboration with Seara dates back to 1978 and ever since we have added strategic, complementary products to our portfolio. We are constantly expanding our products and enhancing our services to meet customer needs, and Seara’s poultry line will further diversify our offering within one of our key food categories. Moreover, based on market studies the F&B market in the Kingdom is poised for healthy growth over the mid-to-long term with consumer spend expected to grow by 4.6% CAGR, until 2024. This is driven by pro-growth Government initiatives, increased women participation in the workforce and expected higher levels of tourism in the coming years, and other related economic drivers.”
Almunajem Foods will benefit from expanding its product range and by offering more customized and high-quality products to its customers, enabling the Company to capture further market share within the industry.
It is worth noting that the Company has recently altered its name from Almunajem Cold Stores Company to Almunajem Foods and has refreshed its logo, in line with the Company’s future ambitions to further strengthen its leading position in the Kingdom of Saudi Arabia.