Green Corp Expands Portfolio with Acquisition of Emad Bakeries

Green Corp has announced the acquisition of Emad Bakeries, a prominent industrial bakery based in Jeddah, in a strategic move aimed at bolstering its foothold in the Saudi food processing sector. This acquisition marks a significant step forward for Green Corp’s vision of establishing a unified GCC platform spanning the entire food value chain. 

Emad Bakeries, renowned for its production of Arabic bread and pastries, operates the largest industrial fresh flatbread bakery in western Saudi Arabia, boasting state-of-the-art manufacturing facilities. With this strategic investment, Emad Bakeries aims to expand its operations and expertise into new regions of the Kingdom, further solidifying its position in the market. 

Green Corp, backed by a $150 million fund controlled by Gulf Islamic Investments (GII), a prominent Sharia-compliant alternative investment firm with over $4.5 billion of assets under management (AUM), focuses on investing in high-growth, demand-driven, scalable, and sustainable food businesses across the GCC. This acquisition aligns with Green Corp’s mandate to create an integrated food platform across the food value chain, reducing food import dependency and ensuring sustainable benefits for consumers. 

The addition of Emad Bakeries to Green Corp’s portfolio complements its recent expansion efforts, including the growth of its controlled environment agriculture company, Badia Farms, across Saudi Arabia, the UAE, and Bahrain. By integrating Emad Bakeries’ fast-growing food production capabilities, Green Corp strengthens its position as a key player in the GCC food-related investment landscape. 

Commenting on the acquisition, Mohammed Alhassan, co-founder and co-CEO of GII, expressed confidence in Emad Bakeries’ heritage and commitment to quality, stating that it will resonate deeply with customers in Saudi Arabia. Pankaj Gupta, fellow co-founder and co-CEO of GII, emphasized the strategic alignment of the acquisition with Green Corp’s vision of establishing a comprehensive GCC food investment platform. 

Legal advisory support from King & Spalding and AlAmmar Law Firm, while RidgePoint Advisors served as the sole financial advisor to Emad Bakeries.