Saudi Arabia’s BinDawood Holding Company has signed a share purchase agreement to acquire 51% of the shares in the UAE’s Wonder Bakery, valued at 96.9 million dirhams ($26 million).

BinDawood said the transaction will be funded by internal resources and available financing facilities and is a part of the company’s plan to expand its regional footprint. The move also aims to establish a manufacturing facility within Saudi Arabia, enabling the transfer of technical and operational know-how.

Wonder Bakery is a Dubai-based industrial-scale bakery manufacturer, established in 2014, specialising in fresh and frozen bakery products for the hospitality, aviation and retail sectors. It serves regional GCC markets, including Qatar, Bahrain and Kuwait.

This transaction is subject to regulatory approvals.

(Writing by Bindu Rai, editing by Brinda Darasha)
bindu.rai@lseg.com