LT Foods, a global leader in the basmati and specialty rice segment, has entered the Saudi Arabian market. This strategic move aims to capture a significant share of the USD 2 billion rice and rice-based food market.
Why LT Foods Chose Saudi Arabia
Saudi Arabia’s growing demand for premium rice products makes it an attractive market for LT Foods. The company plans to invest Rs 415 crore in warehousing, stocks, and staffing over the next five years. Additionally, with strategic support from the Saudi Agricultural and Livestock Investment Company (SALIC), LT Foods aims to establish local manufacturing facilities in the Kingdom.
LT Foods Sets Ambitious Revenue Targets
By expanding its presence in Saudi Arabia, LT Foods is targeting a revenue of Rs 976 crore within five years. The company has already opened an office in Riyadh to facilitate its operations and ensure better accessibility to its customers.
LT Foods’ Strategic Global Expansion
LT Foods’ entry into Saudi Arabia aligns with its vision of expanding its global footprint. The company’s Chairman and Managing Director, Vijay Arora, expressed enthusiasm about this new venture. “We are excited to bring our premium food offerings to Saudi Arabia,” he stated.
LT Foods’ Established Reputation in Saudi Arabia
LT Foods’ brands, including Daawat, Hadeel, and Mufaddal, are already familiar names in Saudi households. This familiarity provides the company with a strong foundation to further expand its operations.
A Strong Network and Proven Success
Globally, LT Foods operates processing units in India, the US, and Europe. Its vast distribution network of over 1,400 distributors ensures efficient delivery of its products. With a consolidated revenue of Rs 7,822 crore in FY24, the company has a proven track record of success.
Looking Ahead: LT Foods’ Future in Saudi Arabia
With SALIC as a strategic partner, LT Foods is confident about its growth. The company’s investment in infrastructure and local manufacturing is expected to boost its revenue and solidify its position in the market.
This expansion marks an exciting chapter in LT Foods’ journey as a global leader in premium rice and food products.
