Qatar's Hassad Food acquires equity in A'Saffa Foods

10/02/2015 05:22 AST

Qatar's Hassad Food has acquired a minority equity interest in A'Saffa Foods.

The transaction which was announced on Monday in Muscat was concluded and signed by Nasser Al Hajri, chairman of Hassad Food; and Mohamed bin Obaid Al Mazrouei, chairman of Arab Authority For Agricultural Investment & Development.

A'Saffa Foods (formerly A'Saffa Poultry Farms) was established in 2001 and is the largest integrated poultry project in the Sultanate of Oman over a 40-square-kilometre farm area is situated in Thumrit, southern Oman. The state-of-the-art project facility produces high-quality fresh and frozen poultry meat products and its 100 per cent owned subsidiary produces value added processed meat products.

"We are very excited about this acquisition which is a strong testament that Hassad Food is on the right track towards achieving its vision in becoming a leading global provider of high quality food products," Nasser Al Hajri, chairman of Hassad Food, Qatar's premier investor in the food and agriculture sectors, said.

"Hassad's mission is to invest in efficient, profitable, growth-oriented global brands, contributing to the welfare of Qatar and the region by providing high quality products while using the latest technology in harmony with the environment and adhering to the highest standards of corporate social responsibility. I am confident that this partnership is in line with what we are trying to achieve in supporting the economic development and integration with the Gulf Cooperation Council (GCC) market," Al Hajri added.

A'Saffa chickens are fed with 100 per cent natural feed, produced in a highly equipped feed mill and slaughtered according to Islamic law (Sharia). Company plans to expand its existing poultry operations and diversify into other parts of the value chain that complements its business over the next three to five years.

Eng. Saleh Mohammed Al Shanfari, chairman A'Saffa Foods stated: "We are very happy with the deal.

A'Saffa Foods has managed to establish its presence regionally and now it has become amongst the top respected food companies in the GCC. To have a strong partner shareholder on board like Hassad Food of Qatar, I am confident that the company will further progress its way to an even stronger presence globally which will impact positively on our shareholders of the Company. Eng. Saleh also appreciated the role of AAAID for their support from the inception to this strategic project.

Times of Oman