SALIC acquired 66% of United Farmers Holding Group
24 January 2019
Saudi Agricultural and Livestock Investment Company (SALIC) has acquired 66% of United Farmers Holding Company (UFHC) by purchasing the stakes of Saudi-based agri-food companies AlMarai and SGAF. UFHC owns a major stake in the agroholding Continental Farmers Group that operates 45,000 hectares in Western Ukraine. Recently, SALIC has acquired one of the largest Ukrainian agroholdings Mriya whose farms operate 165,000 hectares adjacent to the Continental Farmers Group’s farms.
SALIC’s business strategy is to invest in agriculture in order to ensure the food security to the Kingdom of Saudi Arabia. At present, SALIC’s portfolio farms produce wheat, corn, barley, fodder and other agricultural products.