Saudi Arabian consumer goods giant Savola to purchase UAE-based snack maker Bayara for US$260m

UAE – Savola Group, a Saudi Arabia- based consumer goods company, has agreed to acquire Bayara, a manufacturer of nuts, dried fruits and spices as part of a strategy to invest in high growth sectors.   Bayara specialises in the manufacture and distribution of healthy snacks including raw and roasted nuts, dates, seeds, dried fruits and confectionery. It also produces cooking ingredients such as herbs, spices, and pulses.  The privately held company says it processes around 23,000 tonnes of goods each year and operates out of the UAE and Saudi Arabia.  Savola said in a filing…

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