Foursan Group Announces Investment in Siniora Food Industries

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31-01-2012

Foursan Group, a leading Middle Eastern private equity firm, invests through Foursan Capital Partners I in Siniora Food Industries Plc. Established in 1920, Siniora is the leading producer of quality meat products in Jordan and Palestine. In late 2011, Siniora also acquired the assets and brand of Quality Food Company (a.k.a. Unium), further increasing its breadth and depth of offerings in the region. Today, Siniora has state-of-the-art facilities in Jordan and Palestine, sells approximately 60 products across the Middle East and employs over 300 workers.

Foursan’s investment in Siniora taps into the defensive nature of the food sector in the region as well as Siniora’s top management and positive future growth prospects.

Nashat T. Masri, a Founding Partner at Foursan, said: “We are pleased to partner and work closely with the shareholders and management of Siniora, a company we have been interested in for many years. Siniora is a very strong brand and is well positioned to continue to post impressive results and consolidate its position as a leader in its sector in the region.”

The Chairman of Siniora Foods, Tarek O. Aggad, added: "We have known the Foursan team for over a decade and welcome the addition of a leading regional financial investor to Siniora, particularly during these exciting times for Siniora, which has consolidated its position in 2011 as the leading producer of quality meats in Jordan and Palestine. On account of these successes, on January 29, 2012, Siniora will officially list its shares on the Amman Stock Exchange under the symbol "SNRA". We are highly optimistic about Siniora's future prospects."

Foursan Capital Partners I has become Siniora’s second largest shareholder and has joined the company’s board of directors.