Japan’s Global giants, the Mitsubishi Corporation have announced that they have acquired a minority stake in Dubai’s Al Islami Foods. This represents a huge development but no details about the size of the stake have been revealed at this point.
Al Islami Foods is a major halal food manufacturer in the middle-east and operates through three warehouses and a manufacturing unit within the UAE. The company distributes 100 frozen products under three distinct brands in the GCC.
The Mitsubishi Corporation themselves need no introduction and control numerous businesses across many industries globally. This deal will further Mitsubishi’s interest in the international halal market, which is expected to hit a mammoth $739 billion by 2025.
Mitsubishi’s investment with Al Islami foods is a strategic one that will see them significantly increase their share in frozen food products within the GCC and internationally. While the management of Al Islami Foods believe that this partnership will help them grasp a foothold in the hotel and restaurant sector.
The partnership will also see Al Islami Foods drastically double their food production to double digit figures within a span of 5 years through a strategy of increasing exports and also expanding their range of products, according to chairman, Saleh Saeed Lootah.
Last year, Al Islami Foods opened a new 10,000 square meter food manufacturing factory, the company’s largest such facility to date, which is expected to increase its production capacity by 150%.