Bloomberg News

Anaam of Saudi Arabia to Expand Food, Agriculture Unit, CEO Says

October 08, 2011

Oct. 8 (Bloomberg) -- Anaam International Holding Group, a Saudi food processing and agriculture company, is expanding its dry and frozen foods business, as well as its livestock-feed unit.

The company is in talks with two Spanish manufacturers of olives and olive oil to be the exclusive supplier of their products in Saudi Arabia, Chief Executive Officer Hassan Yamani said Oct. 6 in an interview at Anaam’s headquarters in Jeddah. He declined to provide further details.

Anaam signed an agreement with Nepalese noodle manufacturer, Wiwi as well as Basmati rice manufacturer LTD Foods, India last month. The company is also the sole distributor in the kingdom for France’s Tilly chicken.

“We aren’t looking at the shorterm but are focusing on the longterm and are willing to go at breakeven in order to penetrate the market with new products and claim market share,” Yamani said.

In the agricultural business, Anaam plans to add corn this quarter, wheat in 2012 and barley in 2013, the CEO said. The company almost doubled the amount of grass for fodder it produced this year to 1.5 million pallets of 25 kilograms (55 pounds) and aims to increase production to 2.5 million pallets next year.

--Editors: Claudia Maedler, David Risser

To contact the reporter on this story: Sarah Abdullah in Johannesburg at sabdullah8@bloomberg.net

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net


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