The transaction which was announced in a press conference in New Delhi was concluded and signed in Doha by the chairman of Hassad Food, Nasser Al Hajri, and Virkran Awasty, MD of Bush Foods Overseas.
Bush Foods Oversees was founded in 1992 with a turnover of $235m per annum and specialises in premium basmati rice and has diversified into value added processed foods and international brands which are available in 60 countries worldwide.
This milestone acquisition will position Hassad Food on the global business map as major provider in the basmati rice domain and will be considered another achievement for the Qatari company since its establishment in 2008.
Bush Foods Overseas facilities are equipped with a brand new, $30m, next generation fully automated technology rice mill with an annual capacity of 180000MT of premium Basmati.
Source: Hassad Food
© FoodBev Media Ltd 2024