Abu Dhabi: Abu Dhabi-based food, agritech company Silal has completed the acquisition of a majority stake in UAE F&B distributor Safco.
Marking Silal’s second acquisition in 2023, Safco adds significant commercial capabilities in the import, export and distribution of foodstuffs, and an export footprint spanning 70+ countries across the wider Middle East and Africa regions.
“Our acquisition of Safco is a pivotal step in enhancing our capacity to meet the market’s demand for a wide range of high-quality food products,” said Salmeen Alameri, CEO of Silal. “The value that Safco as a prominent player with a 30-year track record in the UAE’s dynamic food sector brings to Silal is remarkable, and we are committed to harnessing the full potential of this strategic acquisition.”
These capabilities ideally complement Silal’s existing operations by extending its reach across the food value chain to encompass production, procurement and distribution.
“Silal has rapidly emerged as a driving force in transforming our nation’s food industry,” said Ajit Sawhney, Member of the Board, Safco. “We are confident that we will be able to make meaningful contributions and thank the Silal management for the trust placed in our expertise and potential.”
ADQ-backed Silal was established in 2020 to diversify sources of food products and stimulate manufactured and agri-food sectors. The company manages procurement programs and strategic stocks of foodstuffs, while also executing specialized knowledge transfer programs on desert farming techniques and devising research and development projects.