GreenCorp acquires Emad Bakeries to strengthen food investment platform

The acquisition is expected to strengthen GreenCorp's investments in food processing operations.

Green Corp has successfully acquired Emad Bakeries, a Jeddah-based producer of Arabic bread and pastries. 

In a statement, Green Corp said the integration of Emad Bakeries into the Green Corp portfolio signifies a step forward for Green Corp's food production and processing investment platform, supported by Gulf Islamic Investments (GII), a leading Sharia-compliant alternative investment firm managing over $4.5b in assets.

The group aims to invest in high-growth, demand-driven, scalable, and sustainable food businesses across the Gulf Co-operation Council (GCC) to reduce food import dependency.

Additionally, the acquisition strengthens Green Corp's investments in food processing operations, complementing its recent expansion of Badia Farms.

“Acquiring Emad Bakeries represents a significant step forward in our growth strategy in the Kingdom of Saudi Arabia. We are confident that Emad Bakeries' heritage and commitment to quality will resonate deeply with our customers in Saudi Arabia,” said Mohammed Alhassan, co-founder, and co-CEO of GII.

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Emad Bakeries operates the largest industrial fresh flatbread bakery in western Saudi Arabia, with state-of-the-art manufacturing facilities. 

RidgePoint Advisors served as the sole financial advisor to Emad Bakeries, with legal advisory provided by King & Spalding and AlAmmar Law Firm.