Almarai Company (SASE:2280) entered into a sale and purchase agreement to acquire Bakemart FZ LLC, Bakemart LLC and Bakemart WLL for an enterprise value of AED 93.5 million on March 15, 2021. The transaction is fully financed from Almarai Company operating cash flow. The transaction is subject to obtaining certain mandatory and regulatory approvals including the approval of the General Authority for Competition in the Kingdom of Saudi Arabia. On July 8, 2021, the Group obtained GAC's approval for acquisition of Bakemart

Almarai Company (SASE:2280) completed the acquisition of Bakemart FZ LLC, Bakemart LLC and Bakemart WLL on January 12, 2022.