Saudi-based Olayan Group is in negotiations to acquire a majority stake in beverage maker Gulf Union Food Co from Jadwa Investment Co, Bloomberg has reported, citing four people with knowledge of the matter. Jadwa bought the stake in Riyadh-based juice and beverage maker in 2010 for an undisclosed amount. The company exports to more than 20 countries and has brands including Original and Captain juices. The potential acquisition could be worth about SR500m ($133m), the people said.
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