Investindustrial-backed Windoria to acquire a majority stake in Al-Fursan Al-Maghawear.

Investindustrial-backed Windoria, a global food manufacturing company, agreed to acquire a majority stake in Al-Fursan Al-Maghawear, a Saudi Arabian manufacturer and distributor of sauces and shelf-stable foods. Financial terms were not disclosed. "We are proud to announce the first acquisition in Saudi Arabia, in a sector where we have deep expertise and which has significant opportunity for growth. We expect private label penetration to increase materially across the Middle East and Asia in the coming years, creating an exceptional opportunity to accelerate category development and capture untapped potential for Windoria, the global leader in the space. The acquisition of Al-Fursan reflects Investindustrial’s commitment to transforming local champions into global leaders. Investindustrial remains focused on continuous improvement and driving innovation, to build the firm of the future,” Andrea C. Bonomi, Investindustrial Chairman of the Industrial Advisory Board.