Saudi Arabia’s BinDawood Holding has signed a binding agreement to acquire a 51% stake in Vaza Food Company for approximately SAR 217.5 million ($58 million), marking a strategic move to strengthen its position in fresh and specialty food segments.
The transaction, executed through Future Retail for Information Technology Co., a wholly owned subsidiary of BinDawood Holding, remains subject to regulatory approval from the General Authority for Competition. The consideration will be funded through internal resources and available financing facilities, with final valuation subject to adjustments under the share purchase agreement.
Vaza Food operates across food manufacturing, retail, and distribution, with activities spanning confectionery, bakery, and specialty food categories. Its portfolio includes brands such as Pocodor, La Bonte and Badea, alongside food concepts including GRYB, Shahwiyat Qandoorah and HLO Coffee. The company reported revenues of SAR 93.1 million and net profit of SAR 21.5 million in 2024.
Commenting on the acquisition, Ahmad AR BinDawood, CEO of BinDawood Holding, said the move supports the group’s strategy to vertically integrate its supply chain and enhance its fresh food offering.
Beyond portfolio expansion, the deal is expected to improve procurement efficiency, logistics integration and product development capabilities, while strengthening omni-channel distribution through Vaza’s direct-to-consumer and cloud kitchen platforms.
From a packaging industry perspective, the acquisition brings added relevance to foodservice and retail-ready packaging demand. Vaza’s multi-format operations—including production facilities, cloud kitchens and branded outlets—are inherently packaging-intensive, particularly across confectionery, bakery and ready-to-consume formats. As BinDawood integrates these operations, opportunities are likely to emerge around standardised packaging, shelf-ready formats, and delivery-optimised solutions, aligning packaging more closely with product quality, freshness and brand positioning across its expanding retail network.