PHOTO
- F&B consumer spending to reach SAR 273 billion by 2024
Riyadh, KSA: Almunajem Foods (the “Company”), one of the largest food companies in Saudi Arabia, today announces its meat factory has completed its expansion in Jeddah.
The demand meat and poultry in Saudi Arabia has grown exponentially as the F&B sector undergoes a significant uptick in demand, driven by solid demographic fundamentals as well as rising disposable income and government initiatives. According to the latest data, the F&B sector is expected to reach SAR 273 billion in consumer spending by 2024.
The meat processing factory was first established in 1992 and produces a variety of meat and poultry products. The products produced under the brands of Habra, Alnaam, Alsaudia, Dari and Doux are distributed to the Company’s cold store branches for storage and onward distribution to customers. The expansion of the meat factory enhances local sourcing in line with the Kingdom’s vision 2030 of producing more food in-country.
Thamer Bin Abdulaziz Abanumay, Chief Executive Officer at Almunajem Foods, said:
“We are one of the largest food companies in Saudi Arabia. We understand the market very well and the trends over the last few years has pointed to a need for high quality, processed meat and poultry foods. We acted quickly and expanded our meat factory in Jeddah. The strong, long-term fundamentals in place in local food consumption are expected to outstrip demand, and our expansion will help fill some of that shortfall.”
The Company’s business commenced in 1950 in the importation, marketing, distribution and production of leading brands of frozen, chilled and dry foodstuff. Currently the size of its imports is more than 250,000 MT per year made up of over 700 SKUs imported from over 60 international well-known food producers. Almunajem Foods serves over 18,000 customer outlets including retail, food services and wholesale channels. To provide the best service to its customers, the Company has a fleet of over 1,000 specialized trucks to deliver the goods in addition to 12 temperature-controlled cold stores across the Kingdom that has a combined storage capacity of 55,000 MT.
-Ends-
About Almunajem Foods
Almunajem Foods is among the largest Saudi food companies engaged in the importation, marketing, distribution and production of frozen, chilled, and dry foodstuff items. Founded in 1950, the company serves over 18,000 customer outlets including retail, food services, and wholesale channels. It operates 14 branches, 12 of which are equipped with a temperature-controlled warehouse. Almunajem Foods works with over 60 international and local suppliers, majority of which are internationally renowned with established global market footprints. In 1992, Almunajem Foods established its own meat factory in Jeddah and markets its own array of food brands.
For more information on Almunajem Foods please visit www.almunajemfoods.com
For media enquiries please contact:
Layla Kurdieh / Celine Aswad
Brunswick
lkurdieh@brunswickgroup.com caswad@brunswickgroup.com
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
