Almarai Co. — M&A Activity 2010

Mar 30, 2010

Almarai announces the creation of a joint venture with Mead Johnson Nutrition for the infant nutrition category

2280 · 30/03/2010 15:40:33 · Announcement #17687 · View on Saudi Exchange

Almarai announces the creation of a joint venture with Mead Johnson Nutrition for the infant nutrition category

Almarai Company, a leading food company in the Middle East, and Mead Johnson Nutrition, one of the worlds leading infant nutrition companies, have announced on Tuesday 30/03/2010 the creation of a joint venture to produce, market and distribute infant nutrition products in the GCC.

The joint venture, which will be held 50% by Almarai, will draw on the two partners complementary brands and capabilities benefiting from Almarais in-depth knowledge of the region and Mead Johnson Nutritions capabilities and experience as the world leader in the infant nutrition category.

The joint venture will lease the new manufacturing facility currently under construction by Almarai and scheduled for commissioning during 2011.

A management team, sourced from both parent companies, will run the business on a day-to-day basis and will report to the Board of the joint venture, which will be composed of representatives of both companies. And we will keep you informed of further developments.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.