Sarveshwar Foods Limited is set to fully acquire Natural Global Foods DMCC by December 31, 2024, the company announced in a press release today. The strategic move aims to strengthen the company’s operational presence in the Middle East market.
Shares of Sarveshwar Foods Limited were trading at ₹9.65 at 12.55 pm today, up ₹0.10 or 1.05 percent on the NSE.
The acquisition, which completes the purchase of the remaining stake in the Dubai-based subsidiary, is part of Sarveshwar Foods’ broader strategy to expand its global footprint in the rice and rice products sector. Chairman Rohit Gupta highlighted the potential for improved market penetration and operational efficiency in the region.
-
Also read: Vedanta subsidiary faces FEMA fine of ₹35 crore, upheld by tribunal
The global market for rice-based products, estimated at approximately US$32 billion in 2022, is expected to grow at a compound annual growth rate of 5.3 percent through 2030. This growth is driven by increasing consumer demand for gluten-free and organic products, as well as increasing awareness of the health benefits of rice.
Sarveshwar Foods specializes in the production and marketing of basmati and non-basmati rice. The company plans to leverage its expertise to meet the diverse culinary preferences of Middle Eastern consumers and optimize its supply chain through this strategic acquisition.
