In a Deal Worth USD17 Million, Arab Palestinian Investment Company (APIC) Expands Its Operations in GCC Through the Acquisition of Diamond Meat Processing Co. via its Subsidiary Siniora Food Industries

USA Profile Username: jon@newsinnovations.com / edit profile In a Deal Worth USD17 Million, Arab Palestinian Investment Company (APIC) Expands Its Operations in GCC Through the Acquisition of Diamond Meat Processing Co. via its Subsidiary Siniora Food Industries PR Newswire AMMAN, Jordan, May 27, 2016 AMMAN, Jordan, May 27, 2016 /PRNewswire/ -- A consortium led by  Siniora Food Industries Company, a subsidiary of APIC and a leading and fast growing regional meat processing company, and Emerging Investment Partners (EIP) a Guernsey private equity fund acquired Diamond Meat Processing L.L.C (DMP) in the UAE in a deal worth USD 17 million. Prior to this acquisition, DMP was part of the Emirates Trading Agency (ETA) Star House Group, a multi-dimensional and diversified organization as a joint venture with UAE's Al Ghurair Group.      (Logo: http://photos.prnewswire.com/prnh/20160519/370006LOGO ) Chairman of APIC and Siniora Tarek Aggad stated that this acquisition came as part of Siniora's expansionary strategy to increase its regional market share, with a focus on the GCC. Aggad added that this move is also in line with APIC's expansion and development strategy to target new markets, while simultaneously upgrading the products and services of its subsidiaries. Siniora's CEO Majdi Al-Sharif stated that there is an intention to invest in upgrading the current production lines of DMP, keep the brand name "Al-Masa" unchanged, while Siniora's brand name will be added to some products. This deal, Al-Sharif stated, is the result of close ties between Siniora and EIP's management. Siniora is a public shareholding company listed on the Amman Stock Exchange (ASE:SNRA). Siniora enjoys dominant market shares in Palestine and Jordan and also has leading market share in Saudi Arabia. It also markets its products in the United Arab Emirates and other twelve countries in the Middle East. Siniora has two state-of-the-art factories in Jordan and Palestine, and holds international certifications for Occupational Health and Safety Management Systems OHSAS 18001:2007 and Environmental Management Systems ISO14001:2004. http://www.siniorafood.com DMP is one of the UAE's leading meat processing companies based in Dubai with more than 15 years of experience and well-established local brands. The company produces more than 80 varieties of processed meat and holds both the ISO 9001:2008 and HACCP quality certifications. http://www.almasadubai.com For more information, please contact: Fida Musleh/Azar Investor Relations and Corporate Communications Manager Phone: +970(or 972)-2-297-7040 Email: fida@apic.com.jo Website: http://www.apic.ps Follow Us To change the settings for your profile(s) or email delivery, go to https://prnmedia.prnewswire.com/profile/?action=editProfile and select the profile you would like to edit. You can select the industries, subjects, languages, geographical areas, companies, delivery options and delivery frequencies of your choice. In addition to current press releases, you can also find archived news, corporate information, photos, tradeshow news and much more on the PR Newswire for Journalists website: https://prnmedia.prnewswire.com To contact us, email: mediasite@prnewswire.com Please do not reply to this email; this is an automatically generated message. Copyright © PR Newswire Association LLC. All Rights Reserved. A UBM plc company. Our mailing address is: 350 Hudson Street, Suite 300 New York, NY 10014-4504