Hassad Holds 22.5 Percent Stake in Sunrise Foods International

Doha, June 25 (QNA) - Hassad, the leader company in food investment, has acquired a 22.5 percent stake in Sunrise Foods International, the world's largest organic grain and oilseed company, owned by Turkey's Tiryaki Agro. Hassad also announced the signing of a strategic agreement with Tiryaki Agro to provide various food grains to the local market in case of demand. This agreement will strengthen the efforts of the company to achieve food security in Qatar. The deal is expected to close in the last quarter of this year. The Chief Executive Officer at Hassad Food Company Mohamed Badr Al Sada said that the company is delighted to enter into a long-term strategic partnership by acquiring a stake in Sunrise Foods International, pointing out that the company will benefit from the commercial side of this agreement in the coming years, due to the growing demand for organic products in the global markets. Sunrise Foods International is headquartered in Canada, markets its various products in the U.S. and European markets, and has facilities in the United States, Canada and Turkey. The company's operations extend from the Black Sea region through Europe to North America. (QNA)