Saudi Investment in Jordan’s Al-Youm Bakeries to Drive Its Expansion Plans
Summary
The Saudi Jordanian Investment Company (SJIC), a wholly owned subsidiary of Saudi Arabias Public Investment Fund (PIF), has signed an investment agreement with Al-Youm Bakeries, a leading Jordanian bakery company. The investment aims to support Al-Youms strategic expansion plans and enhance its production capabilities, subject to regulatory approvals and other agreed conditions.As part of the deal, Al-Youm Bakeries will issue new shares, enabling the company to scale its operations, introduce new product categories, and strengthen its presence in Jordan and neighboring markets.Muteb Al-Shathri, Acting CEO of SJIC, stated that this investment aligns with the companys strategy to foster sustainable economic partnerships in key Jordanian sectors, including the food industry, contributing to long-term growth and strong returns.For his part, Mahmoud Khalil, co-founder of Al-Youm Bakeries, described the investment as a significant boost to the companys expansion efforts, allowing it to increase production, extend its market reach, and enhance its competitiveness in both local and regional markets.Al-Youm Bakeries is among Jordans largest bakery companies, operating a state-of-the-art production facility with a processing capacity of 300 tons of flour per day and seven production lines. The company also boasts an extensive distribution network covering all regions of the kingdom, according to its statement.