Almarai To Buy Saudi Bottled Drinking Water Producer for $277mln

Saudi Arabia’s dairy and food group Almarai will acquire Pure Beverages Industry, a Riyadh-based bottled drinking water manufacturer, for 1.04 billion Saudi riyals ($277.23 million).

The acquisition aligns with Almarai’s growth strategy to grow its beverage portfolio and expand its consumer offerings.  

The buyout will be financed through internal cash reserves. However, the completion of the deal is subject to the fulfillment of contractual conditions and obtaining the necessary regulatory approvals in the kingdom.

Pure Beverages, established by Ajlan & Bros Group in 1979, owns the Ival and Oska brands, according to the company’s website.

In March, Almarai said a plan to fully acquire the shares of Hammoudeh Food Industries by one of its subsidiaries for SAR263 million fell through as the seller was unable to meet certain conditions required to complete the transaction.