(MENAFN- The Peninsula) The Peninsula
Hassad, Qatar's leading investor in the food sector, announced yesterday that it is acquiring a significant minority equity stake in Sunrise Foods International, the world's largest supplier of organic grains and oilseeds.
Sunrise Foods is based in Canada, and markets its products in the United States as well as to European markets. The company has facilities in the United States, Canada and Turkey, and its business spans from the Black Sea Region across Europe to North America.
Mohamed Al-Sadah, Hassad's CEO commented on the new investment, 'We are delighted to enter into a long-term strategic partnership with Sunrise Foods.
Al-Sadah also explained that this investment would benefit Hassad commercially in the coming years, as the market demand for organic products continues to grow exponentially globally due to the continuing shift in consumer behavior.
The investment is anticipated to be completed in the fourth quarter of 2019.
Coöperatieve Rabobank U.A. is acting as financial advisor to Sunrise and its majority shareholder in connection with the transaction.
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