Abu Dhabi Based Silal Acquires a Majority Stake in Safco
Silal, an Abu Dhabi-based food and agritech firm, has finalized the acquisition of a controlling share in UAE F&B distributor Safco. Safco, Silal's second acquisition in 2023, provides major commercial capabilities in food import, export, and distribution, as well as an export presence covering 70+ countries across the Middle East and Africa regions.
“Our acquisition of Safco is a pivotal step in enhancing our capacity to meet the market’s demand for a wide range of high-quality food products,” said Salmeen Alameri, CEO of Silal. “The value that Safco as a prominent player with a 30-year track record in the UAE’s dynamic food sector brings to Silal is remarkable, and we are committed to harnessing the full potential of this strategic acquisition.”
These capabilities ideally complement Silal’s existing operations by extending its reach across the food value chain to encompass production, procurement and distribution, as per gulfnews.
“Silal has rapidly emerged as a driving force in transforming our nation’s food industry,” said Ajit Sawhney, Member of the Board, Safco. “We are confident that we will be able to make meaningful contributions and thank the Silal management for the trust placed in our expertise and potential.”
ADQ-backed Silal was founded in 2020 to diversify food product sources and encourage the manufacturing and agri-food industries. The organization oversees procurement programs and strategic food supplies, as well as specialized knowledge transfer initiatives on desert farming practices and research and development projects.