Riyadh, Saudi Arabia: Al-Tanmiya Food Company, a leading poultry and food company in the Kingdom, announced the signing of a new memorandum of understanding with Big Idea Ventures , a global venture capital firm specializing in agricultural and food technologies and alternative proteins. The memorandum was signed during the Saudi-US Investment Forum in Washington, D.C., reflecting the depth of the economic partnership between the Kingdom of Saudi Arabia and the United States of America .

This memorandum aims to support the objectives of Saudi Vision 2030 in the field of food security, by strengthening the red meat supply chain and developing sustainable solutions that reduce dependence on imported feed inputs, in addition to enhancing local capabilities in the agricultural sector .

Under the memorandum, Food Development and Big Idea Ventures will explore partial acquisition opportunities in leading US companies in the red meat sector, following the completion of necessary financial, technical, and legal due diligence. The two parties will also evaluate key assets associated with this sector, including feedlots, breeding herds, and supporting infrastructure, to meet the growing demand for a reliable and sustainable red meat supply system in the Kingdom .

The partnership also includes working on developing an integrated agricultural system to produce local and sustainable alternatives to feed components, with the aim of reducing dependence on imports, supporting the efficiency of poultry and dairy production, and enhancing the resilience of the national food economy.

Zulfiqar Hamdani, CEO of Food Development Company, said: “Our partnership with Big Idea Ventures contributes to attracting advanced global expertise to the Kingdom at a time when the need for sustainable food and agricultural solutions is increasing. This agreement will provide us with promising investment opportunities in the US market, along with developing a stronger value chain for the red meat sector and accelerating the adoption of sustainable feed models that support our long-term strategic goals.”

Zain Attar, Managing Director of Food Development Company, said: “This memorandum reflects our commitment to supporting the goals of Vision 2030 to build a more secure and sustainable food system. Through this collaboration, we are working to establish a platform that combines international best practices with the Kingdom’s promising agricultural capabilities, thereby enhancing innovation, stimulating quality investments, and adding long-term strategic value to the national food sector.”

Andrew D. Ive, General Managing Partner at Big Idea Ventures , said: “Saudi Arabia is one of the fastest-growing markets in food technology and sustainable agriculture. We are delighted to be collaborating with the Food Development Company to develop solutions that enhance the Kingdom’s food security, including sustainable feed production and the development of more resilient supply chains, in line with the aspirations of Vision 2030. ”

About the Food Development Company

Tanmiah Food Company, established in 1962, is a leading player in the fresh and frozen poultry, processed meat products, animal feed, and animal health and nutrition products sector in the Middle East. Tanmiah Food Company is a founding partner and shareholder of Al-Dabbagh Group Holding Company. Tanmiah Food Company's highly efficient, integrated business model encompasses food production, processing, and distribution operations in Saudi Arabia, the UAE, Bahrain, Oman, Jordan, and Kuwait. The company operates 150 farms, seven hatcheries, four feed mills, and five primary processing plants (slaughterhouses). Tanmiah Food Company distributes its products through a network of distributors, wholesalers, and retailers, and sells directly to consumers online. Sustainability is a core principle at Tanmiah Food Company, and its initiatives include planting trees irrigated with treated wastewater and converting waste into fertilizer. For more information, please visit www.Tanmiah.com

About Big Idea Ventures
Big Idea Ventures is a global venture capital and innovation firm that invests in, develops, and accelerates technologies in the food, agriculture, and materials sectors. With teams based in New York, Paris, Singapore, and across the Middle East and North Africa, the firm has successfully invested in over 160 startups in 30 countries, providing its partners with direct access to world-leading innovations through fund management, company building, and international innovation programs.

With support from the Vevolution digital platform, which connects more than 2,000 startups with companies and investors, Big Idea Ventures provides thoughtful investment opportunities, specialized research, and in-depth insights into the innovation ecosystem, contributing to accelerating the development of sustainable solutions.

The company collaborates with governments, institutions, global companies and universities to introduce new technologies to the markets, strengthen supply chains and achieve a long-term impact on the food and agriculture systems around the world .

-I finish-

#Company Data

Disclaimer regarding the content of press releases
The content of this press release is provided by a third-party provider. We do not assume any responsibility for, nor do we have any control over, such content. This content is provided on an "as is" and "as available" basis and is not edited in any way. Neither we, nor our affiliates, will be liable for the accuracy, endorsement, or completeness of any opinions, views, information, or materials contained in this content.
This press release is provided for informational purposes only; the content does not constitute legal, investment, or tax advice, nor does it offer any opinion on the suitability, value, or profitability of any particular portfolio or investment strategy. Neither we nor our affiliates will be liable for any errors or inaccuracies in the content, or for any actions you take based on that content. You expressly agree and acknowledge full responsibility for your use of the information contained in this press release.
To the extent permitted by applicable law, Refinitiv, its parent company, subsidiaries, affiliates, relevant shareholders, directors, officers, employees, agents, advertisers, content providers, and licensors (collectively, the 'Refinitiv Parties') shall not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive, or exemplary damages; This includes, but is not limited to, losses of profits, savings, or revenues, whether due to negligence, tort, contract, or other theories of liability, even if the parties to Refinitiv were advised of the possibility of any such damages or losses occurring or actually anticipated them.