SPC Group’s bakery brand, Paris Baguette, is set to make a full-fledged entry into the US$2 trillion halal market.
SPC, a participant in the Presidential Saudi-Qatar Economic Delegation, announced on Oct. 24 that it had signed a joint venture partnership memorandum of understanding (MOU) for Paris Baguette’s Entry into the Middle East with the Galadari Brothers Group on Oct. 23 at the Fairmont Hotel in Riyadh, Saudi Arabia.
Established in the United Arab Emirates (UAE) in 1961, the Galadari Brothers Group is a global conglomerate with operations in Saudi Arabia, Qatar, and other Gulf Cooperation Council (GCC) countries, as well as in various countries worldwide, including the United Kingdom and Australia. It is involved in media, automotive, and food businesses. Notably, it owns over 1,000 dining establishments in the Middle East region alone.
With this agreement, Paris Baguette plans to establish a joint venture with the Galadari Brothers Group next year and expand into 12 countries in the Middle East and Africa, including Saudi Arabia, the UAE, Qatar, Kuwait, and Bahrain, by 2033. The supply of products will be handled by the Malaysia Johor Bahru Factory, a halal-certified production facility scheduled to commence operations next year.