SPC Paris Baguette Enters Middle East... Targeting $2 Trillion Halal Market

Business Agreement with Local Company 'Galadari Brothers'
Expansion Planned to 12 Countries Including Middle East by 2033
Halal-Certified Factory in Malaysia to Open Next Year
President Heo: "Participating in National Economic Delegation... Expecting Results"

SPC Group's Paris Baguette announced on the 23rd that it will expand into the Middle East region, including Saudi Arabia and the United Arab Emirates (UAE).

On the 22nd (local time), at the Fairmont Hotel in Riyadh, Saudi Arabia, Mohamed Galadari, Chairman of Galadari Brothers Group (left in the photo), and Heo Jin-su, President of SPC Group, signed a joint venture partnership agreement (MOU) for Paris Baguette's entry into the Middle East and took a commemorative photo.
[Photo by SPC Group]

Participating as part of the presidential economic delegation on a tour of Saudi Arabia and Qatar, Paris Baguette signed a joint venture partnership memorandum of understanding (MOU) with the prominent local company Galadari Brothers Group at the Fairmont Hotel in Riyadh, Saudi Arabia, on the 22nd (local time) to enter the Middle East market.

Having started construction of a halal-certified factory in Johor Bahru, Malaysia, last June, Paris Baguette will now actively target the $2 trillion halal market through this MOU.

Galadari Brothers Group, established in the UAE in 1961, is a global company operating media, automotive, and food businesses not only in GCC (Gulf Cooperation Council) countries such as Saudi Arabia and Qatar but also in countries worldwide including the United Kingdom, Australia, and Sri Lanka. The group owns about 1,000 food service outlets in the Middle East region.

Paris Baguette plans to establish a joint venture with Galadari Brothers Group next year and expand into 12 countries in the Middle East and Africa, including Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, and Bahrain, by 2033. Products will be supplied from the halal-certified production base in Johor Bahru, Malaysia, scheduled for completion next year.

Huh Jin-soo, President of SPC, said, "I am proud to have achieved meaningful results while visiting the Middle East as part of the national economic delegation," adding, "The halal market is strategically important for Paris Baguette's global business, and we will accelerate the expansion of our global business through close cooperation and bold investment with Galadari Brothers Group."

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