Hassad, Qatar’s leading investor in the food sector, has successfully closed the acquisition of significant minority shareholding in Sunrise Foods International with a 25% equity stake.
The transaction was completed after both the parties fulfilled all the requirements under the share purchase agreement, Hassad announced on Wednesday.
Hassad CEO Mohamed al-Sadah stated, “It is our pleasure to announce the successful closure of the Sunrise Foods International acquisition.”
Al-Sadah confirmed that this transaction is in line with the company's investment strategy, and contributes in achieving food security for the State of Qatar.
Hassad’s CEO further explained that the demand for organic products in the global markets continues to grow, and he emphasised that Hassad will benefit significantly over the coming years from this investment, on both the commercial and strategic sides.
Sunrise Foods, the world’s largest supplier of organic grains and oilseeds is based in Canada. It markets its products in the United States as well as to European markets.
The company has facilities in the United States, Canada and Turkey, and its business spans from the Black Sea Region across Europe to North America.
