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APIC Expands Operations in Palestine

Arab Palestinian Investment Company (APIC) announces a strategic partnership with Reema Hygienic Paper Company through the acquisition of a 51% stake in the company.

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Arab Palestinian Investment Company (APIC) announces a strategic partnership with Reema Hygienic Paper Company through the acquisition of a 51% stake in the company.

The agreement was signed this week by APIC Chairman and CEO Tarek Aggad and Reema shareholders  Nabil and Omar Alhaj Abed, Jadallah Jadallah, and Al Hur investments Co. represented by Lana Alhaj Abed and Nadine Issa.

According to Aggad, this acquisition aligns with APIC’s strategy to bolster its investment footprint in Palestine, with a particular focus on the manufacturing and consumer goods sectors.

“Despite the harsh and challenging conditions in Palestine due to the ongoing war on Gaza, APIC’s investment underscores its unwavering commitment to supporting local industries and employment in Palestine.  Furthermore, this move is set to deliver significant value to APIC, its subsidiaries, shareholders, and the communities in which it operates,” says Aggad.

According to Aggad, this acquisition represents the onset of a promising partnership that is expected to drive significant value creation for both parties.

“Through this investment, APIC will partner with existing shareholders to further institutionalize and expand the business particularly by uplifting its sales through APIC’s subsidiary, Unipal, which is the leading and largest distributor of fast-moving consumer goods in Palestine with a vast network of over 6,000 retail outlets,” says Aggad.

Aggad says that the Reema brand will be retained, and the current shareholders and directors will continue in their roles, collaborating with APIC to advance the company’s growth trajectory.

Commenting on the partnership Abed says that the next phase will see Reema working closely with APIC’s management to align Reema’s future vision with APIC.

“We believe that this collaboration will accelerate the company’s growth, enhance its market presence locally and regionally and foster innovation,” says Abed.

According to Jadallah, Reema, which was founded in 1982, stands as a premier player in Palestine’s sanitary paper industry, employing over 90 skilled professionals across manufacturing, marketing, sales, and logistics, with a market share of around 40%.

Notes from the Editor: APIC is a public shareholding investment holding company listed on the Palestine Exchange.  It holds diversified investments across manufacturing, trade, distribution and service sectors in Palestine, Jordan, Saudi Arabia, the United Arab Emirates, Iraq and Turkey.

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