time to read 1 minutes

IHC scoops up Royal Horizon majorityMENA

IHC scoops up Royal Horizon majority

Another scoop for the incredibly diverse portfolio of Abu Dhabi investment firm International Holding Company (IHC), which just bought a majority stake (60%) of Royal Horizon. Royal Horizon is a privately-held supplier of soft commodities to both the private sector and the government in the UAE. The deal, which was worth around $21m, was completed through IHC’s subsidiary Zee Stores (ZS), which trades food and non-food products.

IHC has been on a shopping spree for a while now, having recently invested in other major companies such as Falcon CI IV LP, a fund that owns a stake in SpaceX (and whose name is almost harder to pronounce than that of Elon Musk’s own child).

why it matters
The deal will give Zee Stores immediate access to Royal Horizon's product categories, and promote synergies across all stakeholders' supply chain. Yesterday we reported that Agthia Group (AGTHIA) took an 80% stake in Nabil Foods. Could these deals be influencing other upcoming acquisitions in the F&B space in MENA?