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Hassad, Qatar’s leading investor in the food sector, on Wednesday announced that it has successfully closed the acquisition of significant minority shareholding in “Sunrise Foods International” with 25 percent equity stake.
The transaction was completed after both parties fulfilled all the requirements under the share purchase agreement.
Hassad CEO Mohamed Al Sadah said, “It is our pleasure to announce the successful closure of the Sunrise Foods International’s acquisition. This transaction is in line with the company’s investment strategy, and contributes to achieving food security for Qatar.”
He said that the demand for organic products in the global markets continues to grow and Hassad will benefit significantly over the coming years from this investment, on both the commercial and strategic sides.
Sunrise Foods, the world’s largest supplier of organic grains and oilseeds, is based in Canada. It markets its products in the United States as well as to European markets. The company has facilities in the US, Canada and Turkey.
(TNN)
The transaction was completed after both parties fulfilled all the requirements under the share purchase agreement.
Hassad CEO Mohamed Al Sadah said, “It is our pleasure to announce the successful closure of the Sunrise Foods International’s acquisition. This transaction is in line with the company’s investment strategy, and contributes to achieving food security for Qatar.”
He said that the demand for organic products in the global markets continues to grow and Hassad will benefit significantly over the coming years from this investment, on both the commercial and strategic sides.
Sunrise Foods, the world’s largest supplier of organic grains and oilseeds, is based in Canada. It markets its products in the United States as well as to European markets. The company has facilities in the US, Canada and Turkey.
(TNN)
