Saudi Arabia's biggest dairy company is finally putting a name and real money behind its long-promised move into red meat, as it hunts for growth beyond milk.
Almarai will spend about SR500 million ($133 million) launching Haboor, a locally produced beef brand, it said on Tuesday.
What's new
A brand. Almarai first said it would enter branded beef in December 2021, with SR250 million and a plan for its own slaughter and packing plant. Haboor is the first time it has named the business.
Twice the money. The new budget is roughly double the 2021 figure.
A date. It expects Haboor to show up in its results from the fourth quarter of 2026.
The big picture
Red meat is the latest step in Almarai's push beyond dairy.
Water. It agreed to buy Pure Beverages Industry, owner of the Ival and Oska bottled-water brands, for SR1.04 billion in June 2025.
Salmon. It is building a seafood plant in King Abdullah Economic City that will process salmon, white fish and local species. Processing lines from JBT Marel are due to be installed in late 2026.
The plan. Its five-year strategy, unveiled in March 2024, set aside SR18 billion for poultry, seafood and red meat as well as its core business.
The rivals
Its rivals are moving the other way, by consolidating.
Two days before Haboor, Nadec signed a non-binding deal to buy Nada's dairy herd for an indicative SR370 million. Nadec would then supply Nada with raw milk under a long-term contract.
Almarai, by contrast, is still opening new categories.
What to watch
The filing came after the market closed on Tuesday, so today's session is the first real test.
The shares closed at SR42.66 on Tuesday, up 0.5% before the news. They are down about 1.4% this year, nearer the bottom of their 52-week range of SR38.18 to SR50.10.
