SAUDI ARABIA – BinDawood Holding Company has signed a definitive agreement to acquire a 51% controlling stake in Vaza Food Company, a prominent local manufacturer of sweets and pastries, for SAR 217.9 million (US$58.03M). The transaction, fully financed through internal resources, marks a strategic move to enhance BinDawood’s supply chain resilience and enrich its premium product portfolio across its extensive retail network in the Kingdom. The deal positions BinDawood to vertically integrate its operations by securing a reliable, high-quality, locally produced source of confectionery items. Vaza Food, established over two decades ago, specializes in traditional Saudi sweets such as maamoul, kunafa, and baklava, as well as innovative pastry lines tailored for modern consumers. With annual revenues exceeding SAR 150 million (US$ 39.95M) and a state-of-the-art facility in Riyadh, Vaza supplies major supermarkets and hypermarkets, making it an ideal acquisition target for BinDawood’s ...