Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Al Ain Farms, which is a subsidiary of Ghitha Holdings, has signed a deal to acquire full ownership of Al Jazira Poultry Farm for Dh285 million.
Falal Ameen, Group CEO of Ghitha Holdings, in a stock market disclosure, said a share purchases agreement was signed to this effect. “The completion of the transaction is subject to the satisfaction of certain conditions under the agreement and receipt of regulatory approvals,” he said.
Al Ain Farms, which was established in 1981 by the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, holds the distinction of being the first dairy company in the UAE. “With a rich history spanning over four decades, Al Ain Farms continues to set benchmarks in the food industry, offering a diverse range of fresh, nutritious and high-quality products,” notes a description of the company on Ghitha Holdings’ website.
Al Jazira Poultry Farm, an egg production facility founded in Dubai in 1999, has grown to become the largest egg producer in the UAE.
Al Jazira Poultry Farm’s eggs, dubbed Golden Eggs, are renowned for their rich golden-yellow yolks. “It was also the first poultry company in the region to produce value-added eggs, including DHA, Omega 3, super eggs, and Lutein-enriched eggs, as well as eggs from hens that are fed certified organic feed,” a promotional media report on the company said recently.
The latest acquisition by the Al Ain Farms is expected to cement its position as the leader in the poultry sector.
Ghitha Holdings, which is part of the International Holding Company (IHC), focuses on sectors related to food production, processing and distribution. It is listed on Abu Dhabi Securities Exchange (ADX) and is valued at Dh4.387 billion.
