Riyadh – Mubasher: Nofoth Food Products Company has signed a share purchase agreement to acquire a 65% stake in Plenty Food Company for a total potential consideration of SAR 55.96 million.
The deal, signed on 18 August 2026, includes a fixed payment of SAR 52.70 million and a conditional earn-out of up to SAR 3.25 million.
The additional payment is contingent upon the target company achieving specific financial targets for the fiscal year that ended on 31 December 2027.
The acquisition is part of Nofoth’s strategy to diversify its portfolio within the food and beverage industry, specifically targeting the healthy food segment.
Plenty Food, which operates brands including Plenty Salads and Catcha Di Le, reported 2025 revenues of SAR 52.46 million and a net profit of SAR 7.14 million.
This follows steady growth from 2023, when the company recorded SAR 23.97 million in revenue and SAR 4.39 million in profit.
Nofoth confirmed that the transaction will be financed through internal resources. Completion remains subject to regulatory approvals, including clearance from the general authority for Competition. No related parties were identified in the transaction.
In the second quarter (Q2) of 2026, the company’s net profit reached SAR 10.28 million, down 17.60% year-on-year (YoY) from SAR 12.47 million.
