Almarai, Saudi Arabia’s largest dairy and food producer, has agreed to acquire Pure Beverages Industry Company for SAR 1.04 billion ($277 million), the company said in a regulatory filing on Monday.
The deal will be financed through Almarai’s internal cash reserves and remains subject to regulatory approvals and the fulfilment of contractual conditions.
Pure Beverages, owned by Ajlan & Bros Group, operates bottled water brands Ival and Oska. The company was established in 1979 and is based in Riyadh.
The acquisition marks Almarai’s latest move to expand its non-dairy beverage operations as the company looks to diversify its consumer product base. Almarai did not disclose expected timelines for regulatory approval or completion.
In March, Almarai cancelled a proposed acquisition of Hammoudeh Food Industries in Jordan after the seller failed to meet pre-closing conditions. That transaction was valued at SAR 263 million.
The company’s last major beverage investment occurred in 2021, when it committed SAR 6.6 billion to expand its poultry and food manufacturing operations over five years.
Saudi Arabia’s bottled water market continues to grow amid rising consumption and a push for local production. Almarai, which is publicly listed on Tadawul, is expected to continue targeting acquisitions to strengthen its position in beverages and adjacent categories.
