Published On: Tue, Jan 13th, 2015

Rafi Agri Foods acquires 20% stake in Delta Food Industries

Rafi Agri Foods acquires 20% stake in Delta Food Industries

Rafi Agri Foods acquires 20% stake in Delta Food Industries

Rafi Agri Foods International FZC has acquired a 20% stake in Delta Food Industries FZC, one of the fastest growing food manufacturing concerns in the UAE. The partnership is in line with Delta’s strategy to invest AED40 million for the expansion of its production lines and food plants over an area of 110,000 square feet.

Saud Salim Al Mazrouei, Director of Sharjah Airport International Free Zone, SAIF Zone, and Hamriyah Free Zone Authority, HFZA, said, “We are happy to support Delta Food Industries and Rafi Agri Foods in their expansion and endeavours.” On the occasion, Shiraz Osman, Director and founder of Delta, said, “This partnership will allow us to leverage Rafi Agri Foods’ relationships with suppliers around the world and improve our competitiveness in the industry. Delta has plans on penetrating new markets like West Africa this year with the existing and a new range of products.” S.A.M. Jaffari, Chairman of Rafi Agri Foods, commented, “Our partnership with Delta is a natural extension to our existing business. This decision allows us to move up the value chain and get closer to the end consumer.” Sharjah Airport International Free Zone has over 6,500 companies from 147 countries carrying out varied business activities. Rafi Agri Foods International FZC was established in 2011, and is a 50/50 joint venture between Rafi International FZC and Ronald. A. Chisholm Ltd. The company’s major focus is on the import and distribution of dairy commodities in the UAE and MENA region. Established in 2012, Delta Food Industries is currently specialised in producting tomato products.

Source : WAM News Agency for United Arab Emirates

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