Nadec has formed a joint venture with Hilton Foods Limited, acquiring a 51% stake to enhance local red meat production and align with Saudi Arabia’s food security initiatives.

Target Company Overview

The National Agricultural Development Company (Nadec) has entered into a partnership agreement with Hilton Foods Limited, a wholly owned subsidiary of Hilton Food Group, a leading global provider in the preparation and packaging of protein products, particularly red meats. Under this joint venture, Nadec will hold a 51% stake in the newly formed limited liability company.

This partnership agreement encompasses various terms and conditions that regulate the establishment, management, and operation of the company, marking a strategic step for Nadec to expand its offerings of locally produced red meat products. This 10-year collaboration will see the establishment of the joint venture operating cutting, processing, and packaging operations at Nadec's meat processing facility in the Al-Haradh area, aimed at delivering local, packaged red meat products within the Kingdom of Saudi Arabia.

Industry Overview in Saudi Arabia

The protein sector, particularly red meat, plays a critical role in Saudi Arabia's food industry. With the country's growing population and rising demand for quality protein sources, there has been an increasing