European Buyout Firm Investindustrial Pushes Into Saudi Arabia

An Investindustrial affiliate has agreed to acquire a Saudi Arabian food producer, marking a rare foray by a European private equity firm into the kingdom.

Windoria is buying Al-Fursan Al-Maghawear, a manufacturer and distributor of sauces, condiments and other non-perishable food products, according to a statement. Financial terms weren’t disclosed. The deal, subject to regulatory approval, is expected to close this month.