Mitsubishi & AL Islami Food: A strategic partnership leading to a huge growth
Mitsubishi Corporation, a globally integrated business enterprise, is expanding its position in the global halal food market.
Dubai-based Al Islami Foods, manufacturers of halal food products in the Middle East, has announced that Japan’s Mitsubishi Corporation has acquired a minority stake in the company.
The size of the stake and financial details were not disclosed, Forbes Middle East reported.
A strategic relationship
Al Islami Foods started as a small grocery shop, and then it grew to become a leading halal food manufacturer specializing in frozen goods.
Al Islami Foods now operates out of three warehouses and a manufacturing facility in the UAE.
As for Mitsubishi Corporation, the notorious company operates businesses across virtually every industry.
In a press release, it was declared that Mitsubishi Corporation’s investment comes as part of a strategic partnership that Al Islami Foods hopes will help increase its share of the frozen foods market in the GCC and in global markets, as reported by Forbes.
Al Islami Foods’ decision to partner with Mitsubishi Corporation followed a study by the company through which the company studied the options for new product development that will help increase the frozen food market share in the GCC and wider global markets, reported Cision, a leading global public relations and earned media software company and services provider.
Al Islami Foods is heading towards a bright future, due to the company’s proven market expertise and the booming global halal food industry which is expected to be worth more than $739.59 billion by 2025, according to a new report by Grand View Research, Inc., said Cision.
Things are looking good
According to GlobalMeatNews, the leading online news source for the global meat trade, Saleh Saeed Lootah, chairman of the board of directors, Dubai Cooperative Society said:
“This association with Mitsubishi Corporation is another step in Al Islami Foods ongoing efforts to accelerate growth.”
“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.”
“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,” he added.