Aleid Foods Company signed a 50% acquisition contract with “Brunch” company specialized in ready-made meals, to strengthen its position in the local market, and set plans to expand its product sales, distribution, and marketing traditionally and digitally.

The Brunch Company has innovative food brands managed with special operation standards that reflect the globalization of flavors, and are classified into five main production lines including firstly XO Street Food, offering a wide variety of high-quality street food dishes from around the world, secondly Como, which specializes in the Italian cuisine for parties and special occasions, thirdly, Vereen, a production line dedicated to all kinds of 100% gluten-free baked goods, fourthly, Zereshk for traditional Persian food with special international flavors, and finally The Brunch, which offers a variety of healthy meals and beverages targeting the niche consumer segment looking for balanced, healthy and ready-made food with a great taste, suitable for their busy schedule and lifestyle.

The founder and head of “Brunch” company for ready-made meals, Abdulaziz Al-Fahd, expressed his delight in the cooperation with Aleid Foods Company, which will support the spread of the new concept adopted in ​​the company’s dishes, that results from years of work, study and evaluation of raw materials and preparation procedures applied in the company’s kitchen and consumer needs, while taking into consideration costumers’ recommendations in recipes development in each of the company’s brands.  He stressed that the cooperation between Brunch and Aleid foods will give the company the development opportunity needed to attain the position it deserves in the market.

In turn, Abdullah Al-Ghanim, Business Development Manager at “Aleid Foods”, valued the partnership and partial acquisition with brunch, considering it a reasonable step that will reflect positively on the company’s ambition to launch new product lines and diversify its services to reach the largest consumer segments, and is in line with the company’s aim for providing new and innovative products keeping pace with the modern and changing food trends and tendencies, and support the company’s efforts to push forward with promising projects by harnessing its superior business expertise to expand locally and regionally.

This unique partnership is part of Aleid foods’ commitment to achieving continuous growth and one of its strategy’s main axes to invest in national talents and build effective partnerships with young entrepreneurs and owners of small and medium enterprises.

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As first milestone of its regional expansion strategy Goals_25 Aleid Foods opens the first office in Dubai

Aleid Foods Company announced the launch of its regional operations by establishing its first business center outside of Kuwait with the opening of the Aleid Foods Dubai, the hub of the commercial activity in the region, which will specialize in trade and re-export of food products and commodities.

The opening of the Aleid Foods Dubai is the first step for expansion since it’s one of the most developed central regional markets distinguished by competition, diversity, and high absorptive capacity to import and re-export food products and commodities with specifications matching the Gulf markets’ requirements, in addition to playing an influential role in creating sustainable solutions that support strategic cooperation between the key players in the Food and Beverage international trade and being a global hub for food logistics and cross-border trade.

Aleid Foods CEO, Eng. Mohammed Al-Mutairi, confirmed that Aleid Foods Dubai will be a dynamic regional center to manage the company’s commercial activities specializing in trade and re-export, explaining that it is the first step in the company’s regional expansion strategy Goals_25 launched last March as a pivotal qualitative turning point which will be a continual process for the coming years to achieve the company’s long-term future vision in reaching leadership in the food sector across the region.

Al-Mutairi added that Aleid Foods Dubai will strengthen the existing operations and relations with its affiliated and partner brands, and it support the company’s ambitious regional expansion plan and diversify its product portfolio by creating promising opportunities in the food and beverage market to build effective partnerships with new food brands, and communicate and cooperate with food supply chain traders and suppliers, citing that the center is managed and led by a capable team with distinct experiences in food trade and supply chain management according to regional and international standards.

Al-Mutairi concluded by emphasizing the company’s determination to achieve the Goals_25 plan which reflects its commitment to continuous growth and support its principle of business sustainability while achieving returns for shareholders and partners.

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Its Board of Directors approved the financial report for the first quarter of 2022

Aleid Foods Board of Directors has approved the financial report for the first quarter of the current year ending on March 31, 2022, which indicated a 67.21% increase in the company’s earnings per share reaching 4.03 fils, compared to 2.41 fils in the first quarter of 2021.

The report revealed an increase in the company’s total operating income in the first quarter of the current year by 50.04%, reaching 6,606,068 million dinars, compared to 4,402,618 million dinars in the first quarter of 2021, and an increase in the company’s net profit by 67.21% reaching 583,553 thousand dinars in the first quarter ending On March 31, 2022, compared to 348,985 thousand dinars in the same period last year.

The report indicated that the total private equity of the company’s shareholders increased by 9.23%, reaching 21,677,198 million dinars in the first quarter of the current year, compared to 19,845,093 million dinars in the first quarter of last year.

Aleid Foods company CEO, Eng. Muhammed Al-Mutairi stated that the company is committed to achieving sustainable returns for its shareholders and customers, pointing out that the remarkable progress in the company’s operations, accompanied by the launch of the Goals_25 strategy for expansion by end of the first quarter of this year, will enhance its efforts to achieve continuous growth in influential commercial cities across the Gulf, which will be reflected on the position of Aleid in the list of leading companies in the food sector at local and regional levels.

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

Fahad Al-Mutairi: 39.8% profits increase in 2021; a year of upgrading and creating balanced structure to achieve sustainability

Mohammad Al-Mutairi: Company’s total operational revenue increased by 30.6% by end of 2021 through three advanced operational lines

The ordinary and extraordinary General Assembly of Aleid Foods approved the board of directors’ recommendation of cash distribution of 8% per share’s value (8 fils per share), and 17% grant of shares from the authorized capital for the fiscal year ending on December 31, 2021, and that for shareholders registered in the company shareholder records.

In its meeting held today, Aleid Foods General Assembly approved all items on its agenda, most importantly the governance and audit committee’s reports for the fiscal year ending on December 31, 2021. It also approved deducting 10% of the net profit for the voluntary reserve with a value of KD 230,280 to support the company’s financial position, and the election of the board of directors for three more years (2022-2023-2024). Furthermore, the general assembly approved to proceed with the listing of Aleid Foods Company in stock exchange markets outside Kuwait.

Moreover, Aleid Foods’ extraordinary general assembly discussed the topics on the agenda. It approved increasing the authorized and contributed capitals from KD 14,465,646 to KD 16,924,806. It also approved amending Article 5 of the Memorandum of Association and Article 5 of the Statute.

Aleid Foods Chairman of the Board Fahad Al-Mutairi said that the company started in 2021 to activate the restructuring plans, enabling the company to achieve operational sustainability and expand its circle of activities with the aim of improving its local and regional position.

Al-Mutairi added that for Aleid Foods, 2021 was a year of upgrading and creating balanced structure to achieve sustainability, and that by focusing on placing a clear and detailed work mechanism that lays the framework for restructuring its operations, reaching efficiency in standard operation procedures, and keeping up with business development. He pointed out that the company’s net profit increased by 39.8%, reaching KD 2,200,272 (two million, two hundred thousand and two hundred and seventy-two Kuwaiti Dinars) for the fiscal year ending on December 31, 2021, compared to a net profit of KD 1,573,324 for the fiscal year ending on December 31, 2020, in addition to making notable increase in shareholders’ equity by 8.2%.

Meanwhile, Aleid Foods CEO Mohammad Al-Mutairi said that the company’s executive vision is based on measurable objectives and specific operational standards, which helped achieving its 2021 goals through three advanced operational lines, the first of which is adding regional and international trademarks to its list of owned and partner trademarks to diversify the food segments that the company serve. The second line is diversifying sources of income and basket of products to target all different consumer segments, which was translated by establishing centers, branches and subsidiaries such as Aleid Food Supply Center, Aleid Sweet & Deserts Center, and finally Legion Foods Company to enter the Horeca segment and serve hotels and restaurant catering services sector. The third line is attracting and cooperating with small and medium-sized local food projects to support the national product in the local market, especially scalable quality products.

Furthermore, he noted that activating the company’s restructuring program plans coincides with continued progress in Aleid Foods share’s growth and supporting its steady development to achieve sustainable profit for shareholders and partners. This led to increasing the company’s earnings per share by 39.8% for the fiscal year ending on December 31, 2021 reaching 15.21 fils, compared to 10.88 fils for the fiscal year ending on December 31, 2020, while the company’s total operational revenue increased by %30.6 by the end of 2021 compared to the same period in 2020.

Al-Mutairi added that Aleid Foods General Assembly’s approval of listing the company in the stock exchange markets outside of Kuwait is a first step to achieve our regional expansion strategy known as Goals25 that includes taking Aleid Foods products and services model to the vital cities in the GCC markets and doubling the company’s profits by 2025. He further confirmed that Aleid Foods has an influential position in the local foods sector, noting that it retains a rich and diversified portfolio of products, services and trademarks aimed at the satisfaction of the gourmet consumers.

Al-Mutairi concluded by thanking the company’s board of directors and team for their trust in the ambitious strategy that the executive management placed four years ago, and which had a notable positive influence on the company’s performance, which happened to take place in the times of change that we are witnessing globally and regionally.

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Aleid Foods Company signed an exclusive contract with Abdulwahab Food Packing and Packaging Factory to distribute Alkazi brand products in local traditional and digital food outlets, thus supporting the brand’s ambitious strategy for product development and reaching the widest consumer segments in Kuwait.

Khaled Ghazi Al-Badini, founder and general manager of Abdulwahab Food Packing and Packaging Factory, expressed his happiness towards the partnership and cooperation with Aleid Foods, considering it a valuable step that will positively reflect on the product development plans of “Alkazi” and enable the brand to achieve leadership in the local market, emphasizing the importance of distribution and logistical services in securing the presence of “Alkazi” Brand products in traditional and digital sales and marketing channels and its ability to reach the widest segment of target consumers.

In turn, Abdullah Al-Ghanim, Business Development Manager at “Aleid Foods”, valued this partnership with Abdulwahab Food Packing and Packaging Factory pointing out that it aligns with the company’s commitment to providing new products with innovative ideas to the Kuwaiti consumers, to complement their rapid pace lifestyle and their modern changing requirements.

Alkazi offers a variety of dairy and cheese products, produced and manufactured according to the highest quality standards and following safety measures from biological, chemical, and physical hazards in production. The products are made from the best natural and healthy ingredients and distinguished by their authentic flavors to satisfy various consumer tastes at competitive prices suitable for everyone.

This unique partnership aligns with “Aleid Foods” plan to achieve continuous growth, affirming one of the main axes in the company’s strategy of investing in national talents and building effective partnerships with young entrepreneurs and owners of small and medium enterprises.

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Keeping pace with the momentum and ambition of achieving leadership in the food sector and expanding its business across the Gulf region, Aleid Foods Company announced the launching of Goals_25, a clear strategic plan and a pivotal turning point in Aleid’s journey of continuous development, which consolidates the idea with everyone in the work environment and solidifies the trust in the company’s ambitious expansion strategy and creating growth opportunities.

To launch the expansion strategy, Aleid Foods CEO Eng. Mohammed Al-Mutairi explained the symbolic meaning of the Goals_25 plan, carefully defining the strategic steps of the company in the coming years, with the “number 2 stating the pursuit of listing Aleid Foods in two stock exchange markets in the region, and the number 5 signifying enablement of the subsidiary and partner products, services, and brands to enter five vital commercial cities in the Gulf. Finally, the number 25 in the plan indicates the company’s aim at doubling its returns by 25 Million Dinars by end of 2025, compared to the returns achieved by end of the last year 2021”.

Aleid Foods Company is initiating the launch of the Goals_25 plan, by opening the company office in Dubai, the heart of commercial activities in the region, and one of the most vital regional markets known for its competitive qualities, diversity, and high capacity to import and re-export foods goods with specifications matching the Gulf markets. Aleid Foods Dubai office will indeed be a dynamic center for managing the growing commercial activities of the company and its subsidiaries.

Al-Mutairi emphasized Aleid Foods commitment to achieving Goals_25 plan “through harnessing all the capabilities and efforts towards enabling it, by creating a dynamic and flexible work environment that supports the goals and thrives to achieve positive results through the expansion of the company’s structure, based on growing local talents and global expertise, in addition to the continuous development of solid governance policies keeping pace with business progress through Goals_25 plan and establishing Aleid Foods influential positioning in the local and regional markets, based on its unique portfolio of products, diverse sources of income and services in the markets”.

Al-Mutairi concluded by highlighting Aleid Foods’ performance and the motto associated with it, explaining, “As we always say, continuous growth and our journey is just beginning”.

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