Sarveshwar Foods inches closer to acquire remaining stake in Natural Global Foods DMCC

Sarveshwar Foods Ltd. | Consumer Food | FMCG | BSE: 543688 | NSE: SARVESHWAR

29 Nov 2024 Evaluate

Sarveshwar Foods has successfully completed formalities related to the acquisition of the remaining stake in Natural Global Foods DMCC, based in Dubai, UAE.

With the receipt of the final valuation and due diligence reports, and Company’s Board of Directors’ final approval, Sarveshwar Foods is targeting to integrate Natural Global Foods DMCC as its wholly owned subsidiary and full operational integration before the end of the current fiscal quarter i.e. by December 31, 2024. This acquisition is a strategic milestone in Sarveshwar Foods’ ongoing efforts to strengthen its operational presence and control in the Middle East. The acquisition is designed to streamline decision-making processes, create synergies, and drive operational efficiencies across the region, paving the way for accelerated growth.

As part of its broader strategy to expand its global footprint and solidify its leadership position in the rice and rice-based product market, Sarveshwar Foods aims to meet the growing consumer demand for authentic, high-quality rice in the Middle East. This region offers a significant opportunity for Sarveshwar Foods to enhance its market presence and build stronger connections with local consumers.

Sarveshwar Foods is engaged in the business of processing and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets.