Almarai buys Mead Johnson's stake in infant formula JV
Almarai, a Saudi Arabian food company, has completed the acquisition of stake held by Mead Johnson i…Almarai, a Saudi Arabian food company, has completed the acquisition of stake held by Mead Johnson in International Pediatric Nutrition Company (IPNC), a joint venture between the parties.
The company stated that it received all necessary approvals related to this transaction.
In 2010, Almarai and Mead Johnson agreed to form a pediatric nutrition joint venture, IPNC, to sell infant formula products.
IPNC markets infant formula products under Mead Johnson's Enfa and Almarai brands.
Almarai is a trusted brand across dairy, juices and baked goods segment in the Gulf Cooperation Council (GCC). The company has a strong presence in Saudi Arabia and the other member countries of the GCC, including Bahrain, Kuwait, Oman, Qatar and the UAE.
Mead Johnson is engaged in infant and child nutrition, integrating advanced nutritional science with marketing expertise and has a wide range of quality products with high levels of consumer awareness.
