Nofoth to Acquire 65% of Plenty Food for SAR 56M

Nofoth Food Products Company has signed a share purchase agreement to acquire a 65% stake in Plenty Food Company, in a deal announced on 18 August 2026 that deepens consolidation within the Saudi food industry.

The agreement values the transaction at a fixed consideration of SAR 52.70 million, with an additional contingent payment of up to SAR 3.25 million, bringing the maximum total to SAR 55.95 million. The contingent portion is linked to Plenty Food meeting specified financial targets, measured against its audited annual financial statements for 2027.

Nofoth said the cash consideration will be funded entirely from its own resources. The company described the acquisition as part of a broader strategy to expand and diversify its food and beverage portfolio and to add complementary businesses to its operations.

Plenty Food operates in the food and beverage sector and owns a number of brands, including Plenty Salads and Katcha Deli. Bringing these under Nofoth's umbrella is expected to widen the group's product range.

Why it matters

For residents and shoppers across the Kingdom, deals of this kind point to a maturing local food sector where established players are combining brands to broaden choice and strengthen their footprint. As Saudi companies continue to consolidate, consumers may see a wider selection of local food and beverage products reaching store shelves in the months ahead.

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