Al Islami Foods partners with Mitsubishi Corp
Al Islami Foods recently announced that Mitsubishi Corporation has acquired a minority stake in the UAE-based halal food manufacturer.
The decision to partner with Mitsubishi Corporation followed a thorough study by the company into the strategic options for new product development that will help increase the frozen food market share in the GCC and wider global markets. Furthermore, it is expected the collaboration will help Al Islami Foods to grow their footprint in the HORECA (Hotel, Restaurant and Catering) and food service segment within the UAE. The strategic investment will enable the local superbrand to capitalise on Mitsubishi’s well-established distribution in key international markets particularly in Asia.
Al Islami Foods enjoys the second largest market share in the frozen meat products in the UAE and has embarked on an ambitious plan to expand its operations. Prospects look bright for the brand, due to the company’s proven market expertise and the booming global halal food industry which is projected to be worth more than US$ 1.7 trillion by 2020 with consistent double-digit growth year on year.
While the company has already established its footprint in the HORECA segment through effectively marketing high quality poultry products, Al Islami Foods is poised to write a new chapter in its growth, by inviting brands such as Mitsubishi to invest with the promise of strong return on investment into one of the fastest growing sectors in the GCC- frozen halal food.
PwC acted as lead advisor to Al Islami Foods on the deal.