Almunajem Foods bids for stake in Al Jouf

Saudi Arabia’s Almunajem Foods Co. has started talks to acquire a minority stake in the local business Al Jouf Agricultural Development Company. In a stock exchange filing yesterday (19 January), Almunajem Foods said the potential investment in the agribusiness is aligned with its strategy of “achieving continuous growth and strengthening its position within the food sector”. Al Jouf cultivates fruit, vegetables and grains such as potatoes, onions and wheat but also produces olive oil, honey, pickles, a ...