The owners of the UAE’s National Foods Products Co. (NFPC) have reportedly abandoned negotiations over the potential sale of a majority stake in the Abu Dhabi-based dairy group. 

According to a Reuters report citing unnamed sources, NFPC shareholders have decided not to sell the business after final round bids failed to meet their valuation expectations. Shareholders had wanted to raise in the region of US$1.5bn for 51% of the company. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The UAE dairy group appointed Emirates Investment Bank to oversee the sale in October last year. Suitors included Saudi Arabian dairy firm Almarai. The sale was also rumoured to have attracted interest from private-equity firms such as KKR and Fajr Capital. 

NFPC could not be reached for comment at time of press. 

NFPC’s portfolio includes dairy brand Milco and long-life milk-to-fruit juice brand Lacnor. It also has a joint venture with European dairy co-op Arla Foods.