Investment firm Pioneers Holding has reportedly submitted the winning bid for the takeover of Egypt's Arab Dairy.

Following a more than six-month long battle for the Egyptian dairy company, Pioneers' sealed bid offer of EGP71.11 (US$9.32) was accepted yesterday (2 March), according to Reuters. The newswire cited information from the Egyptian market regulator. Pioneers already owns 25% of Arab Dairy.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Al Nour, a local subsidiary of French dairy giant Lactalis, bid EGP71.

No-one was available to comment from Pioneers Holding at the time of press. Arab Dairy could not be reached for comment.

In November, amid the takeover battle for Arab Dairy, we published a profile on the company. Click here for more.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now