Sarveshwar Foods Limited — Updates, 29-11-2024: Press Release

Sarveshwar Foods is progressing towards acquiring the remaining stake in Natural Global Foods DMCC, aiming for full integration as a wholly-owned subsidiary by the end of the fiscal quarter on December 31, 2024. The company has completed valuation and due diligence processes, receiving board approval. This acquisition is pivotal for enhancing Sarveshwar’s operational presence in the Middle East, allowing for streamlined decision-making, improved synergies, and operational efficiencies, driving accelerated growth.

The Middle East presents substantial opportunities for Sarveshwar Foods to address the rising demand for high-quality rice products. The global rice-based products market, valued at approximately USD 32 billion in 2022, is projected to grow at a CAGR of 5.3% from 2023 to 2030, reflecting increased consumer preference for gluten-free and organic options.

As Sarveshwar Foods establishes a regional hub, it is well-positioned to meet diverse culinary preferences and optimize its supply chain in this strategic market. The company's commitment to quality and innovation remains central as it seeks to deepen market connections and enhance stakeholder value.