Egyptian investment firm Pioneers Holding has confirmed more food-related acquisitions are part of the company's agenda during 2015.

Speaking to just-food today, Mohamed Aboulghait, managing director of financial services for Pioneers Holding, confirmed CEO Walid Zaki's earlier comments to the press that the company is looking to make three more acquisitions this year in food and real estate.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

He was unable to disclose further details regarding the potential acquisitions. 

"Once we are done, after the valuation processes and all the relevant valuation matters with regard to a certain transaction in the food business we will announce it. This is very sensitive as we are a listed company and subject to disclosure requirements," he said.

The company earlier this week won the race for Arab Dairy, beating Lactalis with its offer of EGP71.11 per share (US$9.32). Alongside food, Pioneers has assets in real estate, industrial and financial services operations.

See Also:

"The food business in Egypt is very important. It is a large population country. We didn't have a food business in our portfolio and wanted to have this complementary business. We see it as added value for the company. We also need this diversity in our portfolio. Its not correct that most of our investments are in a certain sector, you need a  certain level of diversity," Aboulghait said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Asked what Pioneers had planned for Arab Dairy, Aboulghait said once the deal get regulatory approval, the investment firm would prepare an "ambitious business development plan" to "enhance and improve the status of the employees, create more tactics for improving our market share, and to work closely with Arab Dairy's executive management to have more business".