Riyadh – Mubasher: Qassim Cement Company has signed a share purchase agreement to acquire 100% of the share capital of I-Mix Ready Mix Concrete for a total consideration of SAR 65 million.
The transaction, signed on 8 September 2026, involves the purchase of all shares from the target company’s individual shareholders.
The acquisition will be funded through existing Sharia-compliant credit facilities from commercial banks. Under the terms of the agreement, the purchase price will be paid in three installments.
Completion of the deal remains subject to regulatory approvals, including a non-objection from the General Authority for Competition and the fulfillment of other contractual conditions.
I-Mix, which specializes in the production and marketing of ready-mix concrete, reported revenues of SAR 54.40 million in 2025, SAR 54.80 million in 2024, and SAR 34 million in 2023.
Qassim Cement stated that the move aligns with its strategy to strengthen its building materials value chain through vertical integration and the diversification of revenue streams.
Ownership of the shares will transfer upon the final completion date following the satisfaction of all regulatory requirements.
In the first half (H1) of 2026, the net profits of Qassim Cement hit SAR 120.50 million, down 19.50% from SAR 149.68 million in H1-25.
