LT Foods Expands its Global Footprint by Entering the Saudi Arabian Market

LT Foods Ltd., a worldwide Fast-Moving Consumer Goods (FMCG) company specializing in consumer food products, has officially launched its operations in Saudi Arabia by opening a new office in Riyadh.

This move aims to capitalize on the $2 billion rice and rice-based food market in the Kingdom of Saudi Arabia (KSA). This initiative aligns with the company’s strategic goal of broadening its global presence in new markets.

Currently, LT Foods achieves global revenues of $1 billion, showcasing a proven history of consistent year-on-year profit growth. Over the past 18 years, it has recorded a revenue compound annual growth rate (CAGR) of 18% and a profit CAGR of 21%.

LT Foods intends to invest SAR 185 million in warehousing, inventory, and personnel in the Kingdom over the next five years. The company aims to achieve a revenue of SAR 435 million during this period. With the Saudi Agricultural and Livestock Investment Company (SALIC) as a strategic partner, LT Foods is also preparing to establish local manufacturing facilities in the Kingdom.

The company’s new office in Riyadh is poised to transform the rice market in Saudi Arabia, addressing the increasing consumer demand for authentic and high-quality rice and rice-based food products.

This office will serve as a central hub for LT Foods’ regional operations, allowing the company to utilize its extensive knowledge of rice and rice-based offerings that resonate with the tastes and culinary traditions of Saudi Arabian consumers.

Mr. Gursajan Arora, CEO of Middle East Business at LT Foods, shared his insights, stating, “Saudi Arabia stands out as one of the largest rice importers and is a crucial market for us. We recognize significant growth opportunities in this region and are eager to introduce our legacy of quality, innovation, and trust. With the establishment of our office in Riyadh, we intend to enhance our relationships with local consumers and partners, customizing our products to align with their unique preferences. We are confident in our capacity to bolster our market presence, promote sustainable growth, and consistently provide exceptional value to all our stakeholders.”

During the event, Mr. Vijay Arora, Chairman and Managing Director of LT Foods, stated, “We have successfully established businesses in every market where we operate, delivering high-quality products and premium food options to consumers. LT Foods has significantly contributed to the economy and enhanced its operations. We are thrilled to expand our presence in Saudi Arabia. Our trusted brands, DAAWAT®, Hadeel, and Mufaddal, have been integral to the Kingdom of Saudi Arabia (KSA) for a long time. With SALIC as a strategic shareholder in LT Foods, we are now poised to grow our footprint in KSA by setting up warehouses and preparing to launch local manufacturing.”

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