Saudi Arabia: Almarai to acquire Pure Beverages

Saudi Arabia based dairy firm Almarai has announced that it has signed an agreement to acquire Pure Beverages, a drinking water company based in Saudi Arabia, for 1.040 billion ($277 million).

Founded in 1979, Pure Beverages Industry Company claims to produce “bottled water of exceptional quality”, running “high-tech” production plants that align with global standards. The bottled waters it sells are marketed under the brands Ival and Oska.

In a statement, Almarai said: “This strategic acquisition aligns with Almarai’s growth strategy to expand its beverage portfolio and enhance its consumer offerings. Almarai is confident that this acquisition will create value for its shareholders”.

The acquisition is subject to contractual conditions and regulatory approvals.

Source: Almarai / Pure Beverages