Baladna, a Qatar Public Shareholding Company, acquired a 5% stake in the Egyptian Juhayna Food Industries Company, which is a company listed on the Egyptian Stock Exchange, through several purchases of shares from the market.
In a statement published on the Qatar Stock Exchange website on Monday, Baladna said that the number of shares acquired amounted to about 47.117 million shares, with a total investment of about QR67.085 million.
The statement indicated that the investment decision was based on a very accurate analysis of the market that the company seeks to enter, as the Egyptian market, with a population of more than 100 million people, is a large and promising market for the food and beverage sector.
Juhayna is expected to achieve greater returns in light of the expected market growth and the availability of a strong distribution network.
Juhayna Food Industries is the Egyptian company specialized in the production, processing and packaging of dairy, juice, and cooking products.
Since its founding in 1983, it has secured a frontrunner position in the dairy and juice industries in Egypt and has expanded its presence in the Middle East.
Baladna also announced that it has signed a memorandum of cooperation (MoC) with Inter Plastic, one of the leading plastic packaging factories in Qatar, to supply
plastic packaging material, that meet international standards and are locally manufactured.