Almarai buys PepsiCo’s stake in JV for SAR 255m

Saudi Arabian dairy company Almarai has purchased the remaining 48% stake in International Dairy and Juice (IDJ) from PepsiCo for SAR 255 million (approx. $68 million).

IDJ was established in 2009 as a joint venture between the two companies. The business manufactures and distributes food and beverages in Egypt and Jordan – and also exports products to other markets around the world.

The purchase was made through Almarai’s subsidiary, Almarai Investment Holding. 

With the deal, the Saudi Arabian company is aiming to further strengthen its presence in the region. Almarai produces a range of food and drink products across the dairy, bakery, poultry, juice and infant nutrition segments.