LT Foods is planning to enter into a Strategic Supply & Cooperation Agreement with Saudi Agricultural and Livestock Investment Company (SALIC) to further support SALIC in its food security agenda along with giving LT Foods a significant access to a large market.
This transaction will reflect a successful collaboration and partnership between LT Foods and SALIC as the equity injection will accelerate LT Foods’ organic and inorganic expansion plans across business segments, give a boost to its future growth plans specifically in the Middle East and Saudi Arabia region and fortify its position as one of the leading players in the industry. On the other hand, it will enable SALIC to have greater exposure to the Specialty Rice sector and secure larger quantities of Specialty Basmati Rice to Kingdom of Saudi Arabia.
LT Foods is a branded specialty foods company. It is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market.
