Mondelez furthers expansion plan into Saudi
Clifford Chance and Al-Jadaan law firm consult snack giant on growth
Mondelez International is in consultation talks with Clifford Chance and Al-Jadaan & Partners Law Firm about its expansion into the Kingdom of Saudi Arabia (KSA).
The snack food giant will expand through a joint venture with Olayan Group and Khalifa Algosaibi Group, with the end goal being to launch a distribution hub in KSA.
The company which will be called Mondelez Arabia For Trading LLC, will manage Mondelēz International's sales and distribution operations in KSA.
Clifford Chance M&A partner Mohammed Al-Shukairy said: "We have a strong relationship with Mondelez International globally and are pleased to have been able to help expand its operations in Saudi Arabia, through this important venture, where we can provide deep local expertise as well as a global perspective through our long standing cooperation with leading Saudi firm Al-Jadaan.
“This transaction further illustrates the increased level of M&A activity we are seeing in the consumer goods & retail sector in the region, where we continue to advise local and global brands."