Region’s leading packaged food company seeks portion of UAE’s AED16 billion FMCG sector
Dubai, UAE, April 2, 2016: Goody, the region’s leading packaged food business from Saudi Arabia, has entered an exclusive partnership with GULFCO. The agreement will see the brand meet the UAE’s demand for quality packaged food. The SAR 1 billion-valued business is growing beyond the boarders of the Kingdom, with designs on bringing quality food products to the family tables of the UAE.
Goody was started by Ahmed Saied Basamah in 1969, with a vision to be a leader in the regional packaged food sector. He recognised a need to support women in their homes, driving good nutritious balance for Saudi families and sourcing the best quality foodstuffs from leading food producing countries around the world.
With an initial launch of its core ranges; pasta, tuna, peanut butter and canned corn, Goody will look to grow its UAE market share. The company has identified the country as the second most important economy in the Gulf Cooperation Council (GCC) at AED 16 billion; a 3% growth over last year for the FMCG sector.
“With one of the most dynamic food and beverage sectors in the region, entering the UAE now allows us to target both the domestic and trade arenas, providing quality packaged foods and diversity of choice to customers. Partnering with GULFCO allows us to facilitate a smooth entry, and provides us with access to the UAE’s leading retailers and traders, through their longstanding and committed relationships,” said Mr. Khalid Temairik, General Manager of Goody.
The UAE has the highest levels of urban development in the GCC, with access to the most modern trade channels. Goody insists on strong market research to understand the habits of consumers, and will leverage its partnership with GULFCO to fully immerse itself in the UAE market.
GULFCO (Gulf Trading & Refrigerating LLC) has been a leading distributor of FMCG (Fast Moving Consumer Goods) in the UAE since 1962, and its relationships with leading trade channels provides Goody with the best possible access to established retailers in the packaged food sector. Goody has an initial target of 400 plus stores in modern trade and 500 stores in traditional trade, with a growth potential to 11,000 stores across the country.
“Goody represents decades of trust and quality from the region that families and professionals have come to respect and trust. This partnership provides us with the opportunity to offer more choice to our customers, while giving consumers quality products, made in the region, and designed to cater to the modern way of life,” said Mr. Khaled Issa Chief Operating Officer at Juma Al Majid Group, the partner company of GULFCO.
Goody has identified the UAE as its first priority in growing the brand across the region, which also allows the brand to tap in to the country’s immense HORECA (Hotel/Restaurant/Café) business, which could represent up to 50% of Goody’s business in emirates.