Doha: As part of an amicable settlement reached between the parties, Al Homaizi and Al Rifai have settled their differences and all litigations have been withdrawn.
Al Rifai Nuts and Confectionery Ltd, a wholly-owned Al Homaizi company, is involved in and owns all rights to manufacture, produce and sell various products, including, nuts, dried fruit, confectioneries, deserts and coffee, in 14 different countries across the Mena region, including Egypt and all the GCC member states, using a proprietary Al Rifai system owned by ARNC.
Other countries will be serviced and managed separately including Syria and Algeria by Al Rifai International Holding from the new plant that has been recently constructed in Fidar area in Lebanon and which will have a capacity of around 30,000 tonnes.
“I am excited about the future of the Rifai brand and I am confident that we have geared the business for the future”, says Mohamed Rifai, CEO of ARIH.
Al Homaizi, co-vice chairman of Al Homaizi, a large conglomerate in the region based in Kuwait which owns ARNC said: “This is a culmination of almost 20 years of cooperation between the parties and we look forward to further developing the Al Rifai nuts and confectionary business of ARNC and to successfully continue to serve the needs of our customers for high quality products in the region.”
The Peninsula
