International Dairy & Juice, a joint venture between Saudi firm Almarai and PepsiCo, has taken full control of Teeba Investment for Developed Food Processing Co.

IDJ signed an agreement yesterday (9 April) to raise its stake in the Jordan-based dairy group from 75% to 100% by purchasing the minority stake held by Alsafa Company for a total consideration of JOD12m (US$16.95m).

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

In an announcement to the Saudi stock exchange, Almarai – which holds a 52% stake in IDJ – said the “simplified ownership structure” would allow IDJ to “drive the Teeba investment forward”.

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