Saudi Arabia’s Almarai is gobbling up another MENA-based food company. The Middle East’s biggest dairy company finalized the purchase of an additional 15% stake in Modern Food Industries, a Riyadh-based snack food maker. Almarai will finance the additional stake through operating cash flows which will be reflected in this year’s Q2 results.

The additional stake in Modern Food Industries isn’t the only acquisition Almarai has made this year. In total, Almarai spent SAR 299m on investment activities in the first quarter of this year — notably, in March, it acquired Bakemart’s business operations in the UAE and Bahrain. It's almost as if the company knows that the key to anyone's heart is actually through their stomach!