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Almarai completes Premier Foods acquisition

Saudi Arabian processed-foods maker Almarai Co. on May 27 completed its previously announced purchase of a 100% stake in Premier Foods LLC from Alamar Foods CJSC for 108 million Saudi riyals.

Premier Foods produces value-added halal meat and poultry products for the Middle Eastern market.

As of May 26, US$1 was equivalent to 3.75 Saudi riyals.