Nadec World

history

The National Agricultural Development Company (NADEC) was established by Royal Decree by King Faisal bin Abdul Aziz, as the first agricultural company in the Kingdom of Saudi Arabia in the early 1980s to support agriculture, nutrition and food security. The company leads as the first agricultural company introduced in the Saudi stock market, with 20% owned by the Government, and the rest publicly traded on the Saudi Stock Exchange. It is also one of the largest integrated dairy companies in the world.

Over the past years, the company had several achievements across its various business sectors to double its production capacity and diversify its products by investing in the latest technologies and increasing market share in the region.

1981

  • The company was established by Royal Decree as the first and largest agricultural company in the Kingdom with a capital of SR 400 million.
  • Started growing wheat as a strategic crop amongst other crops such as potatoes, fodder and corn.

1986

  • Started production and packaging of dairy products under “NADEC” brand in its first factory equipped with the latest technologies.

1988

  • Sales reached about SR 300 million of which the agricultural sector accounts for 75%.

1993

  • The cow herd reaches 9000 heads, which are cared for in three modern farms.

1996

  • Started the operation of the second dairy products’ factory, bringing the total capacity of the manufacturers to one million liters per day.
  • The cow herd reached more than 15 thousand heads.

2000

  • Sales growth to reach SR 500 million, in which dairy products account for 60%.

2003

  • Introduced new products of fresh juices.
  • Sales reached SR 330 million.

2006

  • Production of fresh juice in transparent PET bottles as the first company to introduce such innovation in the Saudi market.
  • Sales growth reached SR 575 million.

2007 – 2009

  • Sales exceeded SR 1 billion for the first time in 2007.
  • Cattle population reached 50,000 heads by the end of 2009.

2010 – 2011

  • Started implementing growth plan strategies based on increased sales and market share of key products.

2012

  • The rapid growth in sales volume to reach 18%.
  • Restructuring the organizational structure and raising the qualification and efficiency to support the ambitious growth plan.

2013

  • Sales growth of 20% to become one of the fastest growing food companies in the Middle East

2014

  • Sales achieved a new record breaking the SR 2 billion mark for the first time.

2015

  • Sales growth by more than 13% with a net profit of SR 141 million.
  • Completion of the construction of the first stage of cattle farm No. 7 with a capacity of more than 10,000 cows.
  • Started the reclamation and cultivation of 3200 hectares in Sudan to provide alternative sources of feed from outside the Kingdom.

2016

  • Opened plastic packaging plant to meet the demand in a faster time, control the quality level and reduce costs.
  • Added new production lines for cheese and other dairy products.

2017

  • Signed an MOU with Al Safi Danone Company to study the possibility of merging the business of the two companies.

2018

  • Signed a final agreement to acquire all the shares in Al Safi Danone through increasing the share capital of NADEC by issuing shares to the partners in Al Safi Danone.
  • Non-objection of the General Authority for Competition to complete the process of economic awareness by the acquisition of NADEC on Safi Danone.