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Almunajem Foods Company Announces that an agreement in principle has been found for the acquisition of Trademark Rights
| Element List | Explanation |
|---|---|
| Announcement Detail | Almunajem Foods Company announces to its valued shareholders that, as part of its strategy to enhance business growth and expand its portfolio of brands in the poultry sector, and in alignment with relevant government initiatives, an agreement in principle has been found for the acquisition of the intellectual property rights of the two internationally recognized trademarks: “Doux” and “Supreme” in the Kingdom of Saudi Arabia, the Gulf Cooperation Council (GCC) countries, and the Republic of Yemen.
This step aims to localize globally leading brands in the poultry sector, thereby strengthening the Company’s assets, supporting local content initiatives, enhancing supply chain efficiency, and improving the quality of products.
It is worth noting that France Poultry (a French company headquartered in Chateaulin , France) owns the above-mentioned brands and is wholly owned by Abdullah Al Ali Almunajem Sons Company, which is considered a related party. The brands assignment agreement will be finalized and signed in accordance with the relevant laws and regulations.
Any material developments will be announced in due course in accordance with the applicable laws and regulations |
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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