RIYADH: Saudi Agricultural and Livestock Investment Co., a wholly owned subsidiary of the Public Investment Fund, has raised its stake in Olam Agri to 80.01 percent in a SR7 billion ($1.88 billion) deal, marking a major step in its global expansion strategy.
This move strengthens SALIC’s position as a key global food and agriculture player, with Olam Agri offering integrated origination, processing, and logistics capabilities that enhance supply chain efficiency and ensure the smooth flow of essential commodities, according to a statement.
The investment brings SALIC’s portfolio to 12 strategic assets globally, reflecting its strategy of acquiring high-quality platforms to secure access to diverse food sources, supported by Olam Agri’s operations across more than 30 countries in Asia, Africa, Australia, and the Americas.
The move also aligns with the Public Investment Fund’s broader strategy of deploying capital into strategic sectors globally to support Saudi Arabia’s long-term economic diversification. Since its landmark restructuring in 2015, the fund has emerged as a central engine of the Kingdom’s transformation, with assets under management rising from around SR500 billion to more than SR3.47 trillion by 2025.
“SALIC’s investment strategy is centered on diversifying supply networks and securing direct access to global food sources, enabling us to build a more resilient food ecosystem capable of adapting to global shifts. Since our partnership with Olam Agri began in 2022, our objective has been to build more than an investment partnership,” Sulaiman bin Abdulrahman Al-Rumaih, group CEO of SALIC, said.
“We have been developing an integrated platform with a global reach that strengthens food security and supply resilience. This transaction marks a historic milestone in SALIC’s journey, enhancing our role across global food supply chains and supporting the reliable and efficient flow of essential commodities to international markets,” Al-Rumaih added.
He added that this expansion reflects a clear balance between SALIC’s global ambition and national responsibility.
“It strengthens the Kingdom’s role in supporting the stability of the global food ecosystem, while allowing SALIC to leverage its international capabilities and networks to reinforce Saudi Arabia’s food security, in line with Vision 2030 and its objectives to build resilient, sustainable, and future-ready sectors,” Al-Rumaih said.
The significance of the deal is further underscored by the PIF’s broader economic impact. Between 2021 and 2025, PIF contributed roughly one-third of Saudi Arabia’s real non-oil gross domestic product growth, with its share of the economy rising from 4 percent to 10 percent, equivalent to a cumulative SR910 billion.
