Aleid Foods Company Extraordinary General Assembly approves the purchase of 99% of the capital of Al Ashraf Foods:
Al-Mutairi: We aspire to diversify and develop into the food services sector while accelerating our regional expansion.
Kuwait – August 2023:
Aleid Foods Company Board of Directors discussed today the items listed on the agenda of the Extraordinary General Assembly, and approved the purchase of 99% of the capital of Al Ashraf Market Center Company owned by Dalqan Holding Group, in addition to approving the increase of the authorized and issued capital of the company from KD 18.617 M to KD 30.331 Million by issuing 117.142 Million new shares, at share par value of 100 fils, and an issuance premium of 75 Kuwaiti Fils as cash increase paid in one payment and offered for subscription to shareholders registered in the company’s records on the due date that will be soon announced (a 62.92% increase of the company’s total issued and current paid-up capital).
Aleid Foods Extraordinary General Assembly also agreed to amend Article 5 of the Memorandum of Association and Article 5 of the Articles of Association, making the company’s authorized and issued capital KD 30.331 Million after the amendment and distributed over 303,315,729 Million shares, with share par value of 100 Kuwaiti Fils.
Aleid Foods Company CEO, Eng. Mohammed Al-Mutairi affirmed that 2023 is the year of launching and initiation for Aleid Foods, and therefore the offer of acquisition of Al Ashraf Company came to further the implementation of Aleid’s business model, boost the momentum achieved in the past years and effectively instigate the acceleration of the company’s operations to achieve the regional expansion strategy Goals_25, in terms of adopting diversified sources of income that support the leadership position in the food sector and reinforces sustainable profitability, stressing the importance of the food services sector, which is witnessing rapid growth in the Gulf countries in general and the Saudi market in particular.

Al-Mutairi added, explaining the unique competitiveness of Aleid Foods’ new business model which will become distinguished with the addition of Al Ashraf, allowing us to strengthen our current position as the partner of choice with international, regional, and local food brands, as well as keep pace with the latest innovations and the ever-changing market and client trends, enabling Aleid Foods ambition leadership in the food sector on local and regional levels.
Al-Mutairi concluded by referring to the company determination to perceive challenges as opportunities for growth and business development, hence achieving sustainable returns for shareholders and partners, while focusing on the Aleid Foods continues growth into the regional markets.

–The End–

“Aleid Foods: Company was established in 1994, with a paid-up capital of more than 12 million Kuwaiti dinars. It was listed on the Kuwait Stock Exchange in 2008 under the consumer services sector. Today, it is a leading company in importing, marketing and distributing food products in Kuwait. “Aleid Foods” has diverse operation lines, a group of partner brands, branches, and subsidiaries specialized in food, with a distribution channel network of advanced logistical capabilities, serving more than 1000 commercial customers and massive direct-to-store operations. “Aleid Foods” believes in digitalization, and is keen to adopt the latest digital technologies in the marketing and distribution of food products.
AlAshraf Company, which specialized in importing and selling diverse foodstuffs, was established in 2002 with the aim of innovating and developing food services in the restaurants and central kitchens sectors and food supply companies, in addition to operating in the supply of raw materials and chocolate production equipment. After nearly ten years, the company has solidified its position in the local market, becoming among the three most significant and renowned companies in the food services sector.

Download PDF

Aleid Foods CEO, Eng. Mohammed Al-Mutairi gives an exclusive statement to CNBC Arabia

Aleid Foods General Assembly approves the distribution of 5% cash dividends and a 10% grant of shares for the fiscal year ending on December 31, 2022:

Al-Mutairi: 2023 is the year of launching and initiation to activate our regional operations

Kuwait – May 3, 2023

Aleid Foods Company Ordinary and Extraordinary General Assembly approved the recommendation of the Board of Directors to distribute 5% cash dividends of the par value per share (5 fils per share), and the distribution of a 10% grant of shares of the authorized capital, for the fiscal year ending on December 31, 2022, for shareholders registered in the company’s records

In the meeting held today at its headquarters, Aleid Foods Ordinary General Assembly also approved all the items on its agenda, the most important of which was the approval of the governance and auditing committee’s reports for the fiscal year ending on December 31, 2022, and the approval of deducting 10% of the profits for the voluntary reserve account in the amount of KD 262,722 to support the company’s financial position, in addition to approving the transfer of KD 553,907 from the voluntary reserve to a retained earnings account.

Aleid Foods Company Extraordinary General Assembly discussed the items listed on its agenda, and the increase of the company’s authorized, issued, and paid-up capital from KD 16,924,806/600 to KD 18,617,287/200 was approved, in addition to approving the amendment of clause No.(5) of the Memorandum of Association and Article No.(5) of the corporate charter

Aleid Foods Company CEO, Mohammad Al-Mutairi, stated that  Aleid Foods Company achieved the highest revenues in its history in 2022, which was distinguished by an increase in the company’s financial performance indicators compared to 2021, with a recorded increase in net operating revenue of 23.34%, amounting to KD 28,199,327, which came as a result of the company’s determination and plans to develop and diversify its sources of income and balancing the financial returns of its various business sectors, and that is among the company’s priorities to achieve continuous growth. 

Al-Mutairi affirmed Aleid’s commitment to reinforcing its share and enhancing its position as a safe and sustainable investment, hence why it was keen on including rewarding dividend distribution for the fourth consecutive year.

Al-Mutairi added, today Aleid Foods stands solid as it prepares for the new phase of “Launching and Initiation” in 2023, by focusing on supporting and developing the new companies and projects that were launched in the past two years to achieve Aleid’s ambitions in attaining leadership in the food sector at local and regional levels. Concurrently supporting the company plans to achieve its Regional Expansion Strategy Goals 25, activated in 2022 with the opening of the Aleid Foods – Dubai and the establishment of Aqtar Alkhhleej Company in Riyadh, Saudi Arabia by activating the company’s operations in these vital cities and solidify its position as a key player in their markets in addition to enabling it to enter new markets and cities according to its future plans.

Al-Mutairi concluded by extending his thanks and appreciation to the company’s Board of Directors and its team for their trust in the ambitious Regional Expansion Strategy Goals 25 set by the Executive Management to keep pace with the company’s continuous growth aspirations, which positively reflected on maintaining the company’s position in the local and regional markets and enhancing its capabilities to satisfy clients, partners and consumers alike and ensure sustainable returns to investors and shareholders

–The End–

“Aleid Foods: Company was established in 1994, with a paid-up capital of more than 12 million Kuwaiti dinars. It was listed on the Kuwait Stock Exchange in 2008 under the consumer services sector. Today, it is a leading company in importing, marketing and distributing food products in Kuwait. “Aleid Foods” has diverse operation lines, a group of partner brands, branches, and subsidiaries specialized in food, with a distribution channel network of advanced logistical capabilities, serving more than 1000 commercial customers and massive direct-to-store operations. “Aleid Foods” believes in digitalization, and is keen to adopt the latest digital technologies in the marketing and distribution of food products.

Download PDF

Download Image

Al-Mutairi: Aleid Foods achieved the highest revenues in its history and its financial indicators were positive.

Kuwait – April 2, 2023:

Aleid Foods Company organized the second financial analysts and investors’ conference call in collaboration with Arqaam Capital to discuss the company’s financial statements and tailwind and headwind factors related to its indicators in the quarter four and full-year 2022.

Aleid Foods Company CEO, Eng. Mohammad Al-Mutairi, reviewed in detail the company’s financial and operational performance during the year 2022 in general including the fourth quarter of the same year, indicating that the company achieved the highest revenues in its history and its financial indicators were positive, due to the performance of its experienced team and its active contribution to the development of various business sectors, advancing the company’s subsidiaries and strengthening relations with partners and investors.

Al-Mutairi added, stressing Aleid Foods’ commitment to maintaining the minimum limits of loans necessary for operational development, especially with the high rates of inflation, pointing out that the percentage of loans’ contribution to the company’s business does not exceed 36%, which is far lower than the market practices.

As part of Aleid Foods’ efforts to diversify its sources of income to balance the financial returns of its various business sectors, Al-Mutairi explained the company’s success in reducing the distribution sector’s contribution to the total income during the year 2022 from 90% to 83.9%, while in return the contribution of branches increased by 82%, and the contribution of subsidiaries increased by 99%.

The conference call included questions from analysts and investors to Eng. Mohammad Al-Mutairi, the most important of which was a question about the growth rates expected in the coming years for the company’s operational performance in the presence of many existing external factors, to which Al-Mutairi replied by explaining that operating revenues will return to its normal growth rates ranging between 17% to 19%, regardless of the surrounding fluctuations, and indicating that the development of the company’s operations is consistent with the regional expansion strategy Goals_25.

–The End–

“Aleid Foods: Company was established in 1994, with a paid-up capital of more than 12 million Kuwaiti dinars. It was listed on the Kuwait Stock Exchange in 2008 under the consumer services sector. Today, it is a leading company in importing, marketing and distributing food products in Kuwait. “Aleid Foods” has diverse operation lines, a group of partner brands, branches, and subsidiaries specialized in food, with a distribution channel network of advanced logistical capabilities, serving more than 1000 commercial customers and massive direct-to-store operations. “Aleid Foods” believes in digitalization, and is keen to adopt the latest digital technologies in the marketing and distribution of food products.

Download PDF

Download Image

The company’s net profit increased by 14.08% at the end of 2022: Aleid Foods Board of Directors recommended the distribution of 5% cash dividends to shareholders and the distribution of 10% bonus shares of the paid-up capital .

Kuwait – March 6, 2023: Aleid Foods Company Board of Directors held its meeting today, 03/6/2023, and approved to issue the financial statements for the fiscal year ending on 12/31/2022 submitted by the auditors .
The Board of Directors recommended the distribution of 5% cash dividends of the paid-up capital to shareholders (5 fils per share of the paid-up capital) and the distribution of 10% bonus share of the paid-up capital (10 shares for every 100 shares) for the fiscal year ending on 12/31/2022.
The Company reported a net profit of (2,510,258 KD) (two million, five hundred and ten thousand, two hundred and fifty-eight Kuwaiti dinars) for the fiscal year ending on 12/31/2022, as compared with (2,200,272 KD) (two million, two hundred thousand, two hundred and two and seventy Kuwaiti dinars) for the fiscal year ending on 12/31/2021, reflecting a year-on-year increase of 14.08%, with a noticeable 6.41% increase in shareholders’ equity.

The company’s earnings per share increased by 14.08% for the fiscal year ending on 12/31/2022, amounting to 14.83 fils, as compared with13 fils for the fiscal year ending on 12/31/2021, while the company’s total operating revenue grew by 23.34% at the end of 2022, as compared to the same period in 2021.

Aleid Foods Company CEO, Eng. Mohammad Al-Mutairi stated that the company focused in 2022 on planning and innovation, setting clear mechanisms for operational development while working simultaneously on achieving the company’s regional expansion strategy Goals_25, pointing to the multi-dimensional efforts made, the most important of which was the expansion in the Gulf by opening Aleid Foods-Dubai, in the hub of the commercial activity in the region, during the first quarter of 2022, apace with the launch of the Goals_25 strategy, and then came the establishment of the Aqtar Al Khaleej Company in Riyadh to be the focal point of the company’s operational expansion in the Kingdom of Saudi Arabia, in addition to attracting and adding several international, regional, and local brands to the company’s product basket, which includes on the global level the Indian brand Allana, and the Dutch brand Van den Berg. On the regional level, the Emirati brand Freshly and National Biscuit Industries’ brand Nabil from the Sultanate of Oman joined Aleid brands’ list, and finally, locally Aleid added AlKazi and Bnt Manahi brands.

Al-Mutairi added that Aleid Foods also devoted particular attention to developing its operations by expanding into new sectors, most importantly the HORECA sector and restaurant services, and the healthy and organic food sector by acquiring HealthLand Company, in addition to building effective partnerships and signing cooperation agreements with a number of young entrepreneurs in the local food sector to expand the marketing of their products, which are distinguished by their quality and ideas, with the aim of reaching the largest consumers’ segment, especially gourmet consumers.
Al-Mutairi concluded by emphasizing Aleid Foods’ commitment to continuous growth and achieving sustainable returns for shareholders and clients. The three main pillars of the company’s vision remain among its priorities, which are providing healthy food solutions, adopting technology and digital development in marketing products and services, and investing and relying on young national talents, whether through employment or partnership.

Download PDF

Download Image

• Beginning, how do you see Aleid Foods journey in 2023 and what are the most prominent goals you aspire to achieve?

• The year 2022 was about planning and innovation, while the year 2023 is our year for initiation and taking off towards achieving Goals_25 regional expansion strategy, as we are focusing our efforts on enabling the company’s operations and solidifying its position in the Kuwaiti financial market, apace with the active initiative to list the company in one of the most influential stock exchange markets in the Gulf in the current year, in addition to launching and activating its operations in Saudi Arabia whilst growing and supporting its market share, especially in the poultry and frozen meat sector, which is one of the most vital goals for the company and the group in general.

• Tell us about the most significant and remarkable progress milestones achieved by Aleid Foods Company, based on its direction and motto of continuous growth?

• Since its establishment, Aleid Foods Company’s journey has been associated with a passion for achievement and progress and its ambition to achieve leadership in the food sector by adopting competitive standards with the quality and level of its business distinguished by advancing and enabling its operations locally and regionally through three integrated pillars:

First: reinforcing the company’s distribution network in line with diversifying the product basket and building effective partnerships with a number of international, regional and local partner brands and subsidiaries internationally, emphasizing our role as partner of choice and the importance of partnerships in achieving success.

         Second: Advancing the established company with a vertically integrated business model reinforced by supporting lines to develop its business locally, while continuously keeping pace with consumers’ requirements, the digital market, and the establishment of new branches, in addition to expanding the traditional and digital marketing of its products.

 Third: Growing the list of Aleid Foods’ owned and subsidiary companies, and employing them to enter new sectors to support expansion strategies at the local and regional levels.

• What about the Goals_25 regional expansion strategy, which was a clear vision that require anticipation and follow-up, what are its most prominent features?

• Goals_25 strategy is a qualitative step that keeps pace with Aleid Foods’ momentum and ambition in achieving leadership in the food sector, and it aims to be a road map for the company’s future and regional expansion plans for the coming years, and it is characterized by working to list Aleid Foods in two financial markets in the region, the entry of its operations, services, partner brands and subsidiaries to five commercial and vital cities in the Gulf, in addition to doubling the company’s financial returns to reach 25 million dinars at the end of 2025 compared to the financial returns achieved at the end of 2021.

• And where have you reached in the implementation journey of the Goals 25 strategy and what has been achieved by the end of 2022?

• In 2022, Aleid Foods Company continued to work on developing its operation lines to enhance its position in the local and regional markets, attaining many remarkable achievements within the Goals 25 expansion strategy, by focusing on multiple levels, namely:

First: the Expansion in the Gulf region, by opening Aleid Foods Company in Dubai, the hub of the commercial activity in the region, during the first quarter of 2022  in line with the launch of the Goals 25 strategy, and then establishing Aqtar Alkhaleej Company in Riyadh, to be a focal point for the expansion of the company’s operations in the Kingdom of Saudi Arabia.

Second: Attracting various international, regional, and local brands to our product basket, the most important of which is the world-renowned Indian brand Allana, which Aleid Foods is the exclusive distributor of its frozen and fresh meat products, all packaged without preservatives, and ready for retail sale in parallel markets and hypermarkets in the Kuwaiti market. Milky Mist brand, which provides a variety of healthy dairy and cheese products that satisfy the changing and varying requirements of consumers, in addition to the eminent Dutch brand Van den Berg, offering a wide range of crackers, snacks, biscuits, and professionally baked Dutch bread of highest international standards.

At the regional level, Aleid added Freshly to its product basket, the most renowned and widespread Emirati brand in the region in general and Kuwait in particular, which is adopted in most famed restaurants chains such as Burger King, IKEA, and others, and Nabil brand – National Biscuits Industries from the Sultanate of Oman, which is known for biscuits, wafers and snacks products

Locally, the company focused on adding products that satisfy the tastes of different gourmet consumer segments, the most important of which was the AlKazi brand, offering a variety of high-quality and innovative dairy products, cheeses, and olives with unique original flavors.

Third: Building effective partnerships and signing agreements with a number of young entrepreneurs in the local food sector to expand the marketing of their products distinguished by their quality and ideas, with the aim to reach the largest local consumer segments, especially gourmet consumers. In this context, Aleid Foods Company signed an acquisition and partnership contract with the Brunch Company for ready-made meals, which includes innovative brands such as XO Street Food, Como, and Firin.

Fourth: Entering new sectors to expand in meeting the desires of the largest segment of consumers, which reflects positively on the company’s size and positioning in the market and that was achieved by entering the healthy food and supplements sector by acquiring HealthLand Application specialized in organic, vegan and healthy food products and supplements.

Fifth: Developing the existing branches of the company and establishing new ones to enter new food sectors, in this context Aleid established The Bakery & Confectionery Center which launched Morena chocolate as its first brand, in addition to launching the Food Supply Center and the Roastery and Mill Center branches, as for the Food Supply Center it has a special position and journey which started by collaborating with Qassar Brand to prepare special products, and Some time ago, we started producing Bouquet Garni brand specialized in traditional Kuwaiti cuisine, in addition to the La Chorreada brand for Mexican food.

• What about Aleid Foods’ bold venture in entering Saudi Arabia specifically the city of Riyadh, as the first city to expand in the Saudi market within the Aleid regional expansion strategy Goals 25?

• Riyadh is the dynamic heart of the Kingdom of Saudi Arabia, because of its strategic location, in addition to being the main engine for achieving the Kingdom’s Vision 2030 goals, and due to its great importance, it was chosen to be the outset of the company operational expansion within the geographical framework of Saudi Arabia.

After the establishment of Aqtar Alkhaleej Company in the Kingdom of Saudi Arabia, we set up an advanced operational program based on diversifying the product basket by keeping some current products and adding new ones to suit consumers’ tastes in the Saudi market, the region’s largest, most significant, and fastest-growing market, with a growth rate expected to reach 6% in the next five years, in addition, studies and statistics show that the consumption of food goods in the Kingdom of Saudi Arabia constitutes 60% of the total food consumption in the Gulf for several reasons, most importantly the fact that KSA has the largest population in the Gulf with 35.84 million population representing 70% of the total population in GCC countries, and with 37.44% of them being under the age of 25.

• The food market in Kuwait is distinguished by its high purchasing power, putting it at the forefront of the most attractive food markets for food suppliers at the regional and global levels, What is are your vision of its reality and its future?

• The Kuwaiti gourmet consumer is the real driving force behind the food market in Kuwait, and due to frequent travel, he is highly demanding and always seeking everything new, unique and of high world-class quality. With his ever-changing food tendencies, the Kuwaiti consumer depicts the reality of the local food market, remarkably directing the size and quality of the projects created by young Kuwaiti entrepreneurs locally, which qualifies them to lead the food renaissance movement across the Gulf region in the future, especially with the increase of commercial franchises of brands and restaurant chains created by Kuwaiti entrepreneurs, remarkably growing and gaining popularity and spreading from Kuwait to the rest of the Gulf countries.

• Aleid Foods’ share recorded remarkable leaps on Boursa Kuwait during the last three years, especially after the company signed two market maker contracts with Tharwa Investment and Al-Markaz, and beginning of 2022 the company’s efforts paid off with its inclusion in the market main 50 index. What are the effects of this on the current and future position of Aleid’s share?

• The journey of advancing Aleid’s share, which was accompanied by a focus on raising the financial performance indicators of the company, was a fundamental and differentiating pillar in the restructuring program to gain the confidence of investors and achieve sustainable returns for shareholders and partners.

several factors contributed to Aleid’s share reaching the main market 50 index at a solid and deliberate pace, most notably the small number of companies listed on Boursa Kuwait in the food sector coupled with Aleid’s focus on advancing its operations and setting standards that are compatible with internationally approved standards to upgrade its performance, also the accelerated growth the tremendous development that has occurred in the food sector globally in recent years, as it has become one of the most attractive sectors for investors in the regional and global financial markets, especially with its remarkable intersection with other economic sectors such as the tourism sector, hotels, agriculture, etc… in addition to the ability of the food sector to achieve sustainable development goals due to its dynamic and evolving nature.

And within the framework of Aleid’s commitment to reinforcing its share and enhancing its position as a safe and sustainable investment, we have focused in recent years on strengthening the relationship with shareholders to become partners in our journey of success and profit-making as well, which was translated by ensuring the distribution of rewarding profits, the latest of which was the distribution of 8% cash dividends and 17% bonus to shareholders for the Fiscal year ending December 31, 2021.

• What about the cooperation of Aleid Foods with Arqaam Capital?

• Arqaam Capital is a leading and experienced company in providing consultancy services and financial analysis with over 15 years of experience, and this collaboration aims to support the company’s endeavors towards opening new horizons for the development of its investments and in its local and regional expansion plans by strengthening relations with existing investors and shareholders, and attracting new initiators and investors looking for opportunities to invest in emerging financial markets. Aleid Foods Collaboration with Arqaam will include working on several levels, the most important of which is the seasonal analyst conference dedicated to analyzing the company’s financial results, and the first conference was held last November to discuss and analyze the financial results of Aleid Foods Company for the first nine months of 2022, In addition to issuing periodic reports about Aleid Foods to study the Goals_25 strategy and analyze its indicators and implications on the company’s operational performance and development rates, noting that the initial report was issued last August.

Download PDF

Download Image

To enable itsAleid Foods records an increase of 42.18% in Earnings per share and 49.28% in its total operating revenue

In its meeting today, Aleid Foods Board of Directors approved the financial report for the nine months ending on September 30, 2022, indicating a 42.18% increase in the company’s earnings per share compared to the same period last year.

The report revealed a 49.28% increase in the company’s total operating revenue in the nine months of the current year amounting to 22,979,189 million dinars, compared to 15,392,563 million dinars for the same period in 2021. The company’s net profit surgāed by 42.18% to reach 2,160,781.1 million dinars, compared to 1,519,689 million dinars in the same period last year. The report indicated that the total private equity of the company’s shareholders increased by 8.25%, to record 22,097,994 million dinars in the nine months of the current year, compared to 20,413,062 million dinars recorded in the nine months of last year.

The company’s total operating revenue increased by 41.55% in the third quarter of 2022 reaching 7,200,863 million dinars, compared to 5,087,095 million dinars in the third quarter of 2021.

Aleid Foods company CEO, Eng. Muhammed Al-Mutairi stated that the company focused its efforts in the third quarter of the current year, on activating its regional expansion plans within its Goals 25 strategy by establishing Aqtar Al-Khaleej Company based in Riyadh to be the launching point of the company’s geographical expansion of its operation into the Kingdom of Saudi Arabia, which has a unique nature in terms of its population density which constitutes 60% of the total food consumption in the Gulf. Al-Mutairi pointed out to the advanced and agile operational plan set for the company with distinctive balancing factors between diversifying the product basket to continuously adding new and trending products catering to the market needs, and maintaining the list of current brands and products while enhancing varieties, to enable the company’s growth into the Saudi food market and ensuring its competitive edge while being the preferred supplier and partner for the exceptionally demanding consumers.

Al-Mutairi added, as part of Aleid’s objective to achieve continuous growth of its business model, coupled with expanding into new sectors, the company made a new and unique turning point that is a special personal interest of mine with the acquisition of the locally leading HealthLand Application for healthy products, which has more than 5 years of providing a successful digital business and marketing experience of high-quality healthy and organic products, hence enabling Aleid Foods company to enter the digital distribution sector of health products.

Al-Mutairi concluded by emphasizing that Aleid Foods achieved most of its goals and plans set for 2022, especially those related to its regional expansion strategy Goals 25, noting that 2022 was the year of planning and organizing to support the company with solid pace in its journey of continuous growth and the commitment to achieving sustainable returns to shareholders and investors, which will provide the company’s impetus to launch the new phase of initiation into 2023.

Download PDF

Download Image

To enable its business in the healthy food sector and expand digital marketing for products

Aleid Foods Company announced the signing of a 70% acquisition contract with HealthLand, specialized in healthy, vegan and organic products and supplements, to strengthen its position in the local market, and set plans to expand its product sales, distribution, and marketing traditionally and digitally.

Healthland is renowned as digital pioneer in marketing and selling unique healthy and organic food products through an advanced digital application with a global network of brands offering organic food products and high-quality supplements that attracted a wide range of consumers and which HealthLand further gained their trust by developing its products and services over the course of 5 years and contributed in pushing the trend toward healthy and balanced diets for a better life.

Within this context, Ahmed Al-Sharhan, Founder and General Manager of HealthLand, expressed his happiness regarding the cooperation with Aleid Foods, revealing that this partnership is a result of a plan set in the past year aiming to push for the continuous momentum and growth of HealthLand in the local market, and is based on in-depth studies of the healthy foods and organic products market coupled with precise monitoring of trend and requirements indicators of various consumer segments.

He added that the healthy and organic food market has taken a vital and distinct position in the global food sector, as studies and research have proven that healthy and natural food choices of all kinds and sources is fundamental to public health and preventing diseases associated with major health problems, highlighting that HealthLand’s advanced digital business model qualifies it to achieve leadership in the healthy and organic food sector.

In turn, Aleid Foods Digital Marketing Manager, Faisal Al-Ajmi, described the acquisition of HealthLand as a strategic approach that supports the company’s digital expansion strategy locally and enables it to respond to the requirements of a large and growing segment of consumers seeking a healthy lifestyle, noting that digital marketing is crucial and pivotal in promoting organic and healthy food products and supplements since their popularity has been linked to the increase of internet users and growing awareness on their importance to overall health.

Al-Ajmi added that the acquisition of HealthLand will be followed by the development of a long-term plan to market its products digitally and traditionally, implemented by a dynamic team specialized in marketing healthy and organic products.

The acquisition of HealthLand comes within Aleid Foods main axes for achieving continuous growth locally and regionally, and supports the company’s strategy of investing in national talents and building effective partnerships with young entrepreneurs and owners of small and medium enterprises.

Download PDF

Download Image

Al-Mutairi: We strive to achieve continuous growth with clear goals

Kuwait – August 2022:

Aleid Foods Board of Directors approved the financial report for the six months ending on June 30, 2022, which indicated an increase of 65.48% in the company’s earnings per share.

The report revealed a 53.10% increase in the company’s total operating revenues in the first half of the current year, reaching 15,778 million dinars, compared to 10,305 million dinars in the first half of 2021, with a net profit increase of 65.48%, amounting to 1,564 million dinars in the six months ending on June 30, 2022, compared to 945,163 thousand dinars in the same period last year.

The report indicated that the total private equity of the company’s shareholders increased by 8.20%, reaching 21,466 million dinars in the first half of the current year, compared to 19,383 million dinars in the first half of last year, while the company’s net profit in the second quarter of 2022 recorded a 58.70% increase reaching 946,153 thousand dinars, compared to 596,178 thousand dinars in the second quarter of 2021.

Aleid Foods company CEO, Eng. Muhammed Al-Mutairi, stated that 2022 began with the official listing of Aleid Foods share in Boursa Kuwait Main Market 50 Index followed by the launch of the company regional expansion plan Goals 25 with clear objectives for continuous growth and coupled with increasing of efficiency rates through standardizing the operational procedures. It’s worth pointing the positive impact on the market positioning of Aleid Foods locally, eventually contributing to raising the performance levels and achieving sustainable returns for shareholders and growth to our partners.

Al-Mutairi highlighted the financial results achieved by the company in the first half of this year, which reflect a remarkable increase in operating indicators and profits, referencing the company’s total revenue in the second quarter of 2022 which increased by 55.38%, reaching 9.172 million dinars, compared to the total revenue achieved in the second quarter of 2021, which amounted to 5.902 million dinars.

Al-Mutairi added, the growth plans focused on three crucial levels, firstly diversifying the products basket by adding international food brands, such as Milky Mist, Allana, and Freshly, and various local ones, most notably Bnt Manahi and AlKazi, and establishing new branches like the unique Bakery and sweets center that launched Morena chocolate brand, and the Roastery And Mill Center, in addition to partnering with the promising food company “Brunch For Ready-Made Meals”, and building effective relationships with the founder to accelerate the business model.

Al-Mutairi indicated the third and most significant goal which focused on the strategic regional expansion plan Goals 25 first by opening Aleid Foods Office in Dubai specialized in trade and re-export of food products and commodities, and secondly, establishing Riyadh-based Company Aqtar Al-Khaleej, to be the outset of the company’s operational expansion within the Kingdom of Saudi Arabia

Al-Mutairi concluded by emphasizing the company’s consistent efforts to develop and advance its operational lines, focus on innovation and creating opportunities to support the business inside Kuwait and abroad, and to achieve leadership in the food sector at the local and regional levels.

Download PDF

Download Image

After Dubai, Aleid Foods in Riyadh

Aleid Foods Company announced the establishment of Riyadh-based Company Aqtar Al Khaleej, to be the outset of the company’s operational expansion within the Kingdom of Saudi Arabia, as part of its regional expansion strategy Goals_25.

Aleid Foods CEO, Eng. Mohammed Al-Mutairi said that the establishment of Aqtar Al Khaleej Company comes within the first phase of the Goals_25 strategy, which aims for Gulf market expansion and the presence in dynamic and influential cities, explaining that it is a vital step for the company’s operational expansion inside Saudi Arabia starting from Riyadh, the capital, and further revealing that an advanced operational program will be developed for Aqtar Al Khaleej Company by building an new structure for its operations to diversify its product basket to include frozen food, and will be implemented by a proficient team with distinctive experiences in food trade and supply chain management according to regional and international standards.

Al-Mutairi added that Aleid’s ambition for Gulf market expansion is achievable with the company’s entering the Saudi market, the region’s largest, most significant, and fastest-growing market, with a growth rate expected to reach 6% in the next five years, taking reference to statistics that indicate that the consumption of food goods in the Kingdom of Saudi Arabia constitutes 60% of the total food consumption in the Gulf for several reasons, including the fact that KSA has the largest population in the Gulf with 35.84 million population representing 70% of the total population in GCC countries, and with 37.44% of them being under the age of 25.

Al-Mutairi concluded by stressing the company’s consistent efforts to achieve the Goals_25 plan and its commitment to continuous growth which supports the value of business sustainability while achieving returns for shareholders and partners.

Download PDF

Download Image