Almarai, Saudi Arabia’s leading dairy and food producer, has signed an agreement to acquire 100% of Pure Beverages Industry Co. for SR1.04 billion ($277 million). The move is part of Almarai’s strategy to diversify its beverage offerings and strengthen its market position, the company announced.
Pure Beverages Industry Co., known for its “Ival” and “Oska” bottled water brands, operates advanced facilities in the Kingdom with a focus on quality, sustainability, and innovation in water production.
“This strategic acquisition is in line with Almarai’s plan to diversify its beverage offerings and enhance its market position. We believe this deal will create added value for our shareholders,” the company said in a statement.
The acquisition will be funded via Almarai’s internal cash flows, subject to regulatory approvals and finalizing contractual conditions. Almarai confirmed no related parties are involved in the transaction and committed to disclosing any material updates.
This move comes amid a wave of M&A activity in Saudi Arabia, fueled by Vision 2030, which encourages privatization, foreign investment, and local business growth.
Founded in 1977 and listed on Tadawul since 2005, Almarai is among the Middle East’s most valuable food production companies, offering dairy, poultry, juices, baked goods, and infant nutrition products.
According to the General Authority for Statistics, bottled water was the main source of drinking water for 57.24% of Saudi households in 2023 — ahead of public network water (23.56%) and tanker water (18.60%).
The Saudi Water Authority plays a key role in overseeing water quality and access, providing strategic guidance, regulation, and sustainability efforts to ensure reliable water supply across the Kingdom.