Logo of my poultry company
Company signed My poultry Last Thursday, a strategic partnership agreement for production, packaging and marketing was concluded with a company Mine FoodsAl-Munajim Food Company will market and distribute the poultry products subject to this agreement in markets inside and outside the Kingdom of Saudi Arabia.
The two companies said in separate statements on Tadawul that the duration of the memorandum is 7 years, and the companies expected that there would be a positive financial impact on the results during the term of the agreement.
Al-Munajem explained that there is no specific value for this agreement, pointing out that the contract includes Baladi Poultry Company producing and packaging poultry products, while Al-Munajim Food Company markets and sells them in markets inside and outside the Kingdom of Saudi Arabia under the trademarks owned by both Al-Munajim Food Company and Baladi Poultry Company on the principle of sharing profits.
The two companies added that the agreement aims to enhance the sustainable joint growth of both companies and increase the share of local products in the Saudi market with higher quality and better operational efficiency, as this partnership will reflect a strategic integration between the producer (Baladi Poultry Company), and the marketer and distributor (Al-Munajim Food Company), with the aim of achieving common goals in the poultry sector.
She stated that there are related parties in the memorandum, namely:
– Thamer Abdel Aziz Abanmi (Managing Director of Al Minem Food Company, and Vice Chairman of the Board of Directors of Baladi Poultry Company).
– Abdullah Omar Bawazir (Member of the Board of Directors of Al-Minem Food Company, and Member of the Board of Directors of Baladi Poultry Company).
