Almarai is moving into the red-meat sector with Haboor, a pre-packed beef brand backed by an investment of approximately SR500m ($133.3m).
In a statement issued yesterday (28 October), the Saudi Arabia-based food and beverage company described the launch as an “important milestone that will further diversify” its portfolio while increasing domestic manufacturing capacity.
Almarai’s existing portfolio spans its core dairy, juices and beverages businesses, alongside L’usine bread and bakery products, Alyoum poultry and Nura baby nutrition.
Fawaz Aljasser, Almarai’s CEO, said: “This investment is a strategic step that builds on Almarai’s strengths while supporting our long-term growth ambitions.”
He added: “Through Haboor, we are entering the red-meat market with a focus on quality, reliability, and value creation, supported by the integrated capabilities that have defined Almarai’s success for nearly five decades.”
The new beef business supports Saudi Vision 2030 and corresponds with one of the four priorities outlined in Almarai’s 2026–2031 growth strategy: “selective expansion into promising new categories, including red meat”.
The strategy, announced on 8 October, also focuses on “strengthening its core categories”, expanding foodservice and e-commerce operations, and “expanding in priority markets”. Almarai expects to invest more than $4bn over the six-year period.
The company’s latest financial results showed that revenue for the nine months ending 30 September rose 9.7% year on year to SR18.21bn. Operating profit increased 0.9% to SR2.46bn, while net income attributable to shareholders declined 0.3% to SR1.98bn.
When reporting the results on 4 October, Almarai said revenue growth had been driven by stronger sales across its geographic markets, product categories and distribution channels. Increased poultry volumes from expansion projects, together with higher dairy sales in Egypt, also supported performance.
Profitability, however, was affected by higher energy and distribution expenses.