Jazadco acquires majority stake in Mango Jazan

Mango Jazan is the owner and operator of the Mango Jazan store and application, specialized in digital marketing of Mangoes.

  
A farmer harvests mangoes on a field in Al-Giza, on the outskirts of Cairo, Egypt August 27, 2017. Image for illustrative purposes.

A farmer harvests mangoes on a field in Al-Giza, on the outskirts of Cairo, Egypt August 27, 2017. Image for illustrative purposes.

REUTERS/Mohamed Abd El Ghany
Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) announced on Tuesday that it has acquired 65% of the Mango Jazan Store for SAR 2.1 million.

The deal signals Jazadco’s entry into the e-commerce sector, according to the company’s statement to the Saudi Stock Exchange (Tadawul).

Mango Jazan is the owner and operator of the Mango Jazan store and application, specialized in digital marketing of Mangoes.

The acquisition comes in line with the new vision of Jazadco to introduce new technologies and modern marketing practices to its operations to achieve development and rapid growth, as well as offering a unique shopping experience of its products.

It is worth noting that Jazadco owns one of the biggest Mango farms in Saudi Arabia, with an annual production capacity of more than 1,500 tons.

Source: Mubasher

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