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Supplementary Announcement by Almunajem Foods Company Regarding the Acquisition of Trademark Rights
| Element List | Explanation |
|---|---|
| Introduction | Supplementary Announcement by Almunajem Foods Company Regarding the Acquisition of Trademark Rights |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2026-03-01 Corresponding to 1447-09-12 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | With reference to the announcement made by Almunajem Foods Company regarding reaching an agreement in principle to acquire certain trademark rights, the Company would like to announce that it has signed a binding agreement with France Poultry (a French company headquartered in Châteaulin) to acquire the intellectual property rights of the two globally recognized trademarks “Doux” and “Supreme” in the Kingdom of Saudi Arabia, the Gulf Cooperation Council (GCC) countries, and the Republic of Yemen, for the amount of EUR 20,500,000 (twenty million five hundred thousand euros). The Company confirms that the fairness of the evaluation has been verified based on independent valuation reports issued by two specialized and independent consulting firms. The “Doux” brand has been a leading brand in the poultry sector in the Kingdom of Saudi Arabia for more than fifty years. The Company expects that this acquisition will positively contribute to its business growth , strengthen its asset base, and enhance the value of its investment in Balady Poultry Company. It is worth noting that France Poultry is wholly owned by Abdullah Al Ali Al-Munajem Sons Company, which is considered a related party. The trademark assignment agreement has been concluded in accordance with the applicable laws and regulations and without granting any preferential terms or advantages. |
| Financial Impact on the change | Cannot be determined |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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