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Rafi Agri Foods Acquires 20% Stake In Delta Food Industries
Rafi Agri Foods International FZC, a leading agri-commodity trading firm based out of the SAIF ZONE and partner of Canadian-based Ronald. A. Chisholm Ltd, has acquired a 20% stake in Delta Food Industries FZC, one of the fastest growing food manufacturing concerns in the UAE.
The partnership with Rafi Agri Foods is in line with Delta's recently announced strategy to invest AED 40 million for the expansion of its production lines and food plants over an area of 110,000 square feet in addition to the existing facilities.
"We are happy to support Delta Food Industries and Rafi Agri Foods in their expansion and endeavors", said Saud Salim Al Mazrouei, director of Sharjah Airport International Free Zone (SAIF Zone) and Hamriyah Free Zone Authority (HFZA).
"We have begun the New Year with optimism and are confident that the free zone will become the destination of choice for high-quality traders and investors alike," added Al Mazrouei.
Shiraz Osman, Director and founder of Delta commented on the partnership: "Rafi Agri Foods has been a key supplier of various agri-commodities and raw materials since we commenced operations. This partnership will allow us to leverage Rafi Agri Foods' relationships with suppliers around the world and improve our competitiveness in the industry.
Additionally Rafi Agri Foods' knowledge and insight into the dairy industry in particular will benefit Delta's future expansion plans into this field."
"While thanking SAIF ZONE for its continuous support, Osman added that Delta has plans on penetrating into new markets like West Africa this year with the existing and new range of products.
Delta exports over 250 containers per month and has built a network of distributors in over 16 countries around the MENA region. In 2015 Delta is targeting expansion into the production of evaporated milk, sterilized cream, and re-packing of other basic commodities such as tea and oats, he added while thanking SAIF zone its continuous support.
S.A.M. Jaffari, Chairman of Rafi Agri Foods, commented: "Our partnership with Delta is a natural extension to our existing business. This decision allows us to move up the value chain and get closer to the end consumer. We believe that Delta has a bright future ahead and we are delighted to be able to partake in this opportunity."
Rafi Agri Foods International FZC was established in 2011, and is a 50/50 joint venture between Rafi International FZC (est. 1997 in the SAIF Zone) and Ronald. A. Chisholm Ltd (est. 1938 in Toronto, Canada). The company's major focus is on the import and distribution of dairy commodities in the UAE and the MENA region. Chisholm today is one of the world's largest agri-commodity traders with turnovers exceeding US$1.5billion and active sales in over 60 countries worldwide.
Headquartered in Toronto, Chisholm's network of 15 offices across the globe covers every major agricultural hub.
Established in 2012, Delta Food Industries is currently specialized in production of tomato products such as tomato paste, ketchup, hot sauce, and the re-packing of milk powder into tins and pouches.
Sharjah Airport International Free Zone (SAIF ZONE) has over 6500 companies from 147 countries, carrying out varied business activities.
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Sharjah Airport International Free Zone (SAIF ZONE) is one of the oldest, largest and fastest growing free trade zones in the Middle East.
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