NADAC partners with Hilton Foods Limited to establish a joint venture aimed at expanding local red meat production in Saudi Arabia.
Target Information
The National Agricultural Development Company (NADAC) has announced a partnership agreement with Hilton Foods Limited, a fully owned subsidiary of Hilton Food Group, a global leader in the processing and packaging of protein products, specifically red meats. This collaboration aims to establish a joint venture company (LLC), where NADAC will hold a 51% stake in the new entity.
The partnership agreement outlines various terms and conditions governing the establishment, management, and operation of the company and the business interactions between the two parties. This strategic partnership marks a significant step for NADAC in expanding its offerings of locally-sourced red meat products.
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Industry Overview
The market for red meat products in Saudi Arabia is poised for significant growth due to increasing consumer demand for high-quality protein sources. The Saudi government
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National Agricultural Development Company (NADAC)
invested in
Hilton Foods Limited
in
in a Joint Venture deal