The deal is expected to help grow Al Islami Foods in the HORECA (Hotel, Restaurant and Catering) and food service segment within the UAE.
UAE-based halal frozen food company, Al Islami Foods, has disclosed that Mitsubishi Corporation has acquired a minority stake.
The statement said the decision to partner with Mitsubishi Corporation followed a detailed study by the company into the necessary options for new product development and it will help increase the frozen food market share in the GCC and wider global markets.
The deal is expected to help grow Al Islami Foods in the HORECA (Hotel, Restaurant and Catering) and food service segment within the UAE.
It said the strategic investment will facilitate the company to obtain Mitsubishi’s well-established marketing in key international markets particularly in Asia.
Al Islami Foods is UAE’s second largest market share in the frozen meat products and it has embarked an ambitious plan to expand its operations.
The halal food industry at global level is worth more than $1.7 trillion by 2020.
Saleh Saeed Lootah, chairman of the BOD, Dubai Cooperative Society said, “This association with Mitsubishi Corporation is another step in Al Islami Foods ongoing efforts to accelerate growth.”
"Mitsubishi provides our company and brand tangible solutions to help with added production capacity that will help accommodate the growing demand for our products both locally and globally. We believe the relationship with Mitsubishi will increase our production by double-digit growth over the next 5 years through a combination of the expansion of our product range and greater exports.”
