São Paulo – Tanmiah Food Co., the second-largest poultry producer in Saudi Arabia, has plans to take its halal products to new markets. The initiative was announced after last week’s initial public offering (IPO), in which the company raised SAR 402 million, equivalent to about USD 107 million at the current rate. An IPO is when a company’s shares are sold to the public for the first time.
The information was anticipated by Bloomberg and reported on the website of the Saudi newspaper Arab News. Pictured above, a Tanmiah exhibition stand at a food show in 2018
The brand encompasses services ranging from poultry breeding to food processing. According to the company, the chicken is bred locally, in a controlled environment, and fed on 100% vegetable feed, without hormones. The company’s delivery and distribution network is already spread across countries like Kuwait, Bahrain, the United Arab Emirates, Oman, Lebanon, and Jordan.
According to Arab News, the spokesperson for the brand, Ahmed Osilan, said the company hopes to expand in 2025. By having the halal seal, which attests a product is fit for Muslim consumption, Tahmiah targets a market of 1.8 billion Muslims worldwide.
The brand already has about 18% of the Saudi poultry market, and its headquarters are in Riyadh, the country’s capital city. Some of the markets where the company wants to enter are the United States, Europe, Asia, and Latin America. It intends to carry out the expansion through financing from private and government initiatives.
Translated by Elúsio Brasileiro
