Rifai Nuts (Al Rifai Roastery SAL) closed a deal last week with Merit Invest to sell it its entire equity. Merit is part of the conglomerate that is the major shareholder of international shipping giant CMA CGM, which was founded by the late Jacques Saadé and currently headed by his son Rodolphe. The deal was closed at $50 million before deduction of company debt.
MERIT, the Holding company of the Saadé family (and CMA CGM Group) has completed a 100% acquisition of the Lebanese nut-retailing company, Al Rifaï, a market leader in the nuts and appetizers business. For MERIT, this latest acquisition reaffirms the Group’s ambition to invest in Lebanon, providing growth and employment opportunities, while supporting and expanding Lebanese know-how across the globe.
Al Rifaï, a success story of 73 years
Throughout the years, the Al Rifaï brand has become synonymous with Lebanese pride and heritage, holding a special place in the minds and hearts of its loyal consumers. Since its establishment in 1948, with the support and expertise of its 200+ employees, a state of the art factory, 28 point of sales in Lebanon, in addition to the roastery’s extensive catalogue of over 800 high-quality product references and a powerful and innovative ecommerce platform, Al Rifaï brand became a market leader in its product category, producing high-quality flavors of nuts, as well as coffee and confectionary. (Executive Bulletin)