Investindustrial’s Windoria Announces Strategic Acquisition of Al-Fursan, Marking a Major Milestone in Saudi Partnership and Regional Expansion

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LONDON--(BUSINESS WIRE)--Oct 1, 2025--

Windoria, indirectly owned by affiliated funds managed or advised by Investindustrial, entered into an agreement to acquire Al-Fursan Al-Maghawear (Al-Fursan), a leading Saudi Arabian manufacturer and distributor of sauces, condiments, and other shelf-stable food products. Subject to closing conditions and regulatory approval, the acquisition is expected to close by the end of October and marks the first-ever majority transaction in Saudi Arabia by a company backed by a European private equity firm. Investindustrial views this milestone as a tangible reflection of its commitment to pioneering global growth and expanding its portfolio companies to the Middle East and Asia.

Windoria is the combination of Winland Foods, a premier North American manufacturer of private label, branded food products and ingredients and La Doria, one of Italy’s largest producers of private label tomato-based sauces, canned foods and dried pasta. With the Al-Fursan acquisition in the Middle East, Windoria is further strengthening its footprint as a truly global food manufacturing powerhouse that delivers an extensive breadth of products, a resilient supply chain, and uncompromising quality to retailers, foodservice distributors and major food brands across continents. With almost $4 billion in sales, 29 state-of-the-art manufacturing facilities and 5,000 employees, the combined businesses across the Middle East, Europe and North America enable global scale, a vertically integrated supply chain and decades of food expertise to help customers develop and launch innovative new products, differentiate their brands and increase value to consumers.

Al-Fursan, together with its subsidiaries Al-Faris Al-Arabi Trading Ltd. Co. and Al-Faris Food Industries Ltd. Co., is a market leader in sauces and condiments, in particular ketchup and vinegar with several nationally recognised brands, including Baidar. With 300 employees, a modern manufacturing facility in Riyadh and a distribution network comprising six sales offices and seven warehouses across Saudia Arabia, Al-Fursan is well positioned to accelerate Windoria’s growth across the region.

The Gulf Cooperation Council (GCC) region offers significant opportunities, especially in the fast-growing private label sector. This transaction enables Windoria and Al-Fursan to leverage both local and regional expertise, supporting expansion and innovation to unlock the sector’s full potential in the Middle East.

The acquisition was made possible by Investindustrial’s decision to establish a physical presence in the region and thanks to the strategic partnership and trust developed with the Saudi Industrial Development Fund Investment Company (SIC), which has been a catalyst for building transformative collaborations.

This acquisition further highlights Investindustrial’s broader ambitions in the Middle East and Asia. Over the past year, Investindustrial has completed add-on investments with a combined enterprise value of approximately €500 million across both regions, with portfolio companies now operating 25 manufacturing facilities throughout Asia and the Middle East. Newly expanded teams in Abu Dhabi and Shanghai, along with the recent decision to open an office in Tokyo, underscore Investindustrial's global reach and its ongoing commitment to value creation and support for entrepreneurs and family-owned businesses worldwide.

"We are proud to announce the first acquisition in Saudi Arabia, in a sector where we have deep expertise and which has significant opportunity for growth. We expect private label penetration to increase materially across the Middle East and Asia in the coming years, creating an exceptional opportunity to accelerate category development and capture untapped potential for Windoria, the global leader in the space,” said Andrea C. Bonomi, Chairman of the Industrial Advisory Board of Investindustrial. “The acquisition of Al-Fursan reflects Investindustrial’s commitment to transforming local champions into global leaders. Investindustrial remains focused on continuous improvement and driving innovation, to build the firm of the future.”

Investindustrial

Investindustrial is a leading European group of independently managed investment, holding, and advisory companies with €17 billion of raised fund capital. With ESG principles deeply embedded into the Firm’s core approach, Investindustrial has a 35-year history of providing mid-market companies with capital, industrial expertise, operational focus and global platforms to accelerate sustainable value creation and international expansion.

Certain companies of the Investindustrial group are authorised by, and subject to regulatory supervision of the FCA in the United Kingdom, the CSSF in Luxembourg and the FSRA in Abu Dhabi Global Markets. References to ‘Investindustrial’ are of generic nature, for ease of reading, and may refer, depending on the context, to a fund or any of its independently managed subsidiaries. Investindustrial’s investment companies act independently from each other and each Investindustrial fund.

More information is available on www.investindustrial.com.

About Windoria

Formed through the combination of U.S.-based Winland Foods, Italy-based La Doria and Saudi Arabia-based Al-Fursan, Windoria is the global leader in private label and specialized food manufacturing solutions. The company empowers retailers, brands and foodservice operators to succeed through innovative solutions and unmatched food expertise. With 5,000 employees and 29 state-of-the-art manufacturing facilities across North America, Europe and the Middle East, Windoria is pioneering the future of food through innovation and deep industry expertise.

For more information, visit www.windoria.com.

This document (“Document”) has been prepared for information purposes only. Neither the whole nor any of the information in this Document may be used for any other purpose without the prior written consent of Investindustrial. Any reproduction or distribution of this Document, in whole or in part, or the disclosure of its contents, without the prior written consent of Investindustrial, is prohibited. No warranty or assurance is given on the accuracy of the information. All statements of opinion and/or beliefs contained in this Document, and all views expressed and all projections, forecasts and statements regarding future events, expectations or future performance or returns represent Investindustrial’s own assessment and interpretation of information available to it at the date of this Document.

Investors must determine for themselves what reliance (if any) they should place on such views, projections, statements or forecasts and no responsibility is accepted by Investindustrial in respect thereof. Investors should not treat this Document as comprising any element of advice relating to legal, taxation, accounting or investment matters and are advised to consult their own professional advisors concerning the potential acquisition, holding or disposal of an investment. Past performance is not a reliable indicator of future performance and any past performance information contained in this Document is not an indication of future performance.

It has not been audited or verified by an independent party and should not be seen as any indication of returns which might be received by investors. This Document does not constitute an offer or invitation to subscribe or purchase securities or other financial instruments and the information contained herein is subject to updating, amendment and verification. It should not be relied upon by any persons for any purpose.

The terms “group”, “we”, “us” (and similar) in this document have been used only for practical ease of reading and do not intend to imply any specific reference to a legal definition or any activity of control by any individual or company with respect to other companies. Investindustrial companies are each independently managed by their respective boards of directors.

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KEYWORD: UNITED STATES UNITED KINGDOM NORTH AMERICA SAUDI ARABIA MIDDLE EAST EUROPE

INDUSTRY KEYWORD: FINANCE FOOD/BEVERAGE RETAIL PROFESSIONAL SERVICES SUPERMARKET

SOURCE: Windoria

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PUB: 10/01/2025 07:30 AM/DISC: 10/01/2025 07:29 AM

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