Abu Dhabi's ADQ-owned Silal to buy leading fresh produce distributor Al Bakrawe Holding
Silal's deal to acquire Al Bakrawe Holding strengthens its fresh produce portfolio
Dubai: Part of Abu Dhabi investment group ADQ, Silal is to acquire a majority stake in Al Bakrawe Holding, an importer, exporter and distributor of fresh fruits and vegetables.
The deals makes Silal 'one of the UAE's largest suppliers of fresh produce'. Al Bakrawe’s global sourcing network will complements Silal’s extensive sourcing network of local farms, thus allowing the latter to 'provide a broad basket of high-quality fruit and vegetable products all year round'.
Established in 2002 in the UAE, Al Bakrawe Holding is one of the region's largest distributors of fruits and vegetables, handling over 49,000 20-foot equivalents (TEUs) annually. It supplies to most of the UAE’s retailers and wholesalers with over 150 varieties of fresh produce sourced from more than 550 suppliers in over 50 countries.
The acquisition is Silal's third of its kind, following deals for majority stakes in SAFCO International, which specializes in distributing food and beverages in the UAE, and Sherwood, the country's leading distributor of agricultural products and pest management solutions.
“Entering into this agreement with Al Bakrawe Holding marks a significant milestone for Silal as we expand our footprint in the fresh produce market," said Salmeen Alameri, CEO of Silal. "This strategic acquisition strengthens our regional presence."