(MENAFN- The Peninsula) Hassad Food, Qatar's premier investor in the food and agriculture sector, has acquired a significant minority equity interest in A'Saffa. The transaction which was announced yesterday in Muscat was concluded and signed by the Chairman of Hassad Food, Nasser Al Hajri, and Mohamed bin Obaid Al Mazrouei, Chairman, Arab Authority For Agricultural Investment & Development.
A'Saffa Foods SAOG, formerly A'Saffa Poultry Farms, is the largest integrated poultry project in the Sultanate of Oman over a 40 sqkm farm area situated in Thumrit, Southern Oman. The state-of-the-art project facilities produces high quality fresh and frozen poultry meat products and its 100 percent owned subsidiary produces value added processed meat products.
Nasser Al Hajri said: "We are very excited about this acquisition which is a strong testament that Hassad Food is on the right track towards achieving its vision in becoming a leading global provider of high quality food products."
"Hassad's mission is to invest in efficient, profitable, growth-oriented global brands, contributing to the welfare of Qatar and the region by providing high quality products while using the latest technology in harmony with the environment and adhering to the highest standards of corporate social responsibility. I am confident that this partnership is in line with what we are trying to achieve in supporting the economic development and integration with the GCC market" Al Hajri said.
A'Saffa chickens are fed with 100 percent natural feed, produced in a highly equipped feed mill and slaughtered according to Sharia'h.
Company plans to expand existing poultry operations and diversify into other parts of the value chain that complements its business over the next three to five years.
Saleh Mohammed Al Shanfari, Chairman, A'Saffa Foods, said: "We are very happy with the deal. A'Saffa Foods has managed to establish its presence regionally and now it has become amongst the top respected food companies in the GCC. To have a strong partner shareholder on board like Hassad Food of Qatar, I am confident that the company will further progress its way to an even stronger presence globally which will impact positively on our shareholders of the company."
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