RIYADH: Almarai Co. announced the completion of procedures for acquiring the assets owned by Binghatti Beverages Manufacturing (BBM) in the UAE for 215 million dirhams ($58.5 million). according to a bourse filing.
The acquisition will enhance Almarai’s ability to serve its customers by expanding the range of beverage products in the region, the company said in a statement on Saudi Stock Exchange (Tadawul).
The transaction was internally financed by Almarai’s operating cash flows.