On July 30, 2026, Al Babtain Food Company announced the signing of a binding sale and purchase agreement dated July 29, 2026, to divest its entire 3% stake — comprising 1,800 shares — in Chocolate Lake Company for Chocolate and Confectionery Manufacturing, a Jordan-registered limited liability company, to Indulgent Food International Holding Company Ltd, registered in the Dubai International Financial Centre. The total equity value of Chocolate Lake was determined at US$171 million pre-adjustments, with Al Babtain entitled to 4.29% of the total consideration allocated to the selling shareholders; the book value of the stake stands at SAR 3,638,000 per the company's latest financial statements. The agreement also includes a potential earn-out consideration tied to Chocolate Lake Group's adjusted EBITDA performance in fiscal years 2027 and 2028, and USD 5 million of selling shareholders' receivables will be held in escrow for three years post-completion to cover potential claims. Completion is contingent upon regulatory and competition approvals, financing entity consents, and other conditions stipulated in the agreement, with the financial impact expected to be reflected in Q4 2026. Proceeds will be used to strengthen Al Babtain's financial position and fund its core business activities and strategic plans.

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