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Almarai acquires over 9,000 acres of farmland in US

March 11, 2014 3:43 am

Saudi dairy firm, Almarai has said it has completed the purchase of 9,834 acres of farmland in the US state of Arizona, Arab News has reported. The total consideration for this transaction amounts to $47.5m (SR178.1m), and will be financed from the company’s own resources. The deal is part of the company’s continuous efforts to improve and secure its supply of the highest quality alfalfa hay from outside the kingdom to support its dairy business, said Almarai.