Almarai, the Saudi dairy and food company, will invest about SR500 million to enter the red meat market with a new pre-packed beef brand called Haboor, it said on Tuesday.
The Riyadh-listed company said in a statement to the Saudi Exchange that the business will focus mainly on locally produced beef. Asharq Al-Awsat put the investment at $133.3 million.
Almarai expects the financial impact of the launch to show in its results from the fourth quarter of 2026.
The move is part of Almarai’s growth strategy for 2026 to 2031. Selective expansion into new categories, including red meat, is one of the strategy’s four pillars, the company said.
Almarai said the business will draw on its product development, manufacturing, supply chain and distribution network. It said the expansion would support domestic food production and the kingdom’s food supply chains.
“This investment is a strategic step that builds on Almarai’s strengths while supporting our long-term growth ambitions,” said Fawaz Aljasser, chief executive of Almarai.
Almarai Chairman Prince Naif bin Sultan bin Mohammed bin Saud Al Kabeer said on Sunday that a new red meat plant was nearly complete and that the company was also close to opening a seafood plant.
 to enter the red meat market with its Haboor beef brand, with a financial impact from the fourth quarter of 2026.){kind=link}