Almarai buys Etmam Logistics for SAR 182 mn: Saudi dairy giant Almarai has acquired frozen storage provider and distributor Etmam Logistics for SAR 182 mn, according to a Tadawul disclosure. The takeover will help Almarai expand its frozen foods segment, it said in the disclosure.

The dairy company is handling the check: Almarai’s internally generated cashflows are set to fully finance its acquisition of Etmam, which is still contingent upon regulatory approvals, the statement read.

REMEMBER- Almarai made an entry to the frozen bakery segment this year: The dairy company is investing some SAR 405 mn over the course of two years to increase its fresh bakery capacity and enter the frozen bakery market in the kingdom, it said in October.

About Etmam Logistics: Etmam is the logistics arm of Saudi food distributor Shahini, with a fleet of over 220 vehicles.