Saudi Arabia-based Alkhabeer Capital has acquired majority stake in UAE-based corrugated and flexible packaging products provider Express Publishing and Investment (EPIL).
With the transaction, the Saudi firm expects to expand value of its private equity investments through facilitating and leading the growth of its portfolio companies in the country.
According to Alkhabeer, Express group comprises two businesses.
The businesses include Express Pack Print, which manufactures corrugated packaging products, and the Express Flexi Pack that offers flexible packaging materials including plastic OPP labels for beverage bottles and aluminum foil lids for single-serve food products.
EPIL founders and owners Abdulla Zubair Mylanchikkal and Abdul Qadir Mohamed Theruvath said the group is well-positioned to capitalize on the significant market opportunities that exist in the coming years.
"We are therefore delighted to partner with Alkhabeer Capital and we are confident that this shall be a unique lever for growing our business in the coming years," the founders added.
