HBG Holdings, the Dubai-headquartered, investment holding company with regional interests in the fields of consumer products, logistics and retail, announces that it's Jordanian subsidiary HBG Marketing Jordan has recorded its most successful summer results since 2000 with impressive leap in cash flow and profitability.
HBG worked with an independent management consulting firm to analyze the consumer portfolio and map out the best way to enhance portfolio profitability.
According to Zulfi Hydari, Managing Director, HBG Holdings, the final report identified potential “sweet spots” or very profitable strategic “niche” gaps in the portfolio.
A strategic plan was agreed to fill in these gaps by diverting resources away from non-performing segments of the portfolio.
As a result HBG approached and successfully signed Al Alali, one of the best known and fastest growing food brands in the region.
“Our research showed that a high quality regional brand with a wide range and strong recognition in other regional markets could be turned into a winner in Jordan,” adds Hydari.
Since becoming partners Al Alali and HBG have made significant inroads in the market, particularly in the last two months when they shattered their own sales targets by 100%.
“This was despite having to compete with the major heavyweights such as Unilever and Nestle. The Al Alali “Chicken Stock” in particular has done wonders – going from new entrant barely 10 months ago to capturing significant market share from Unilever’s Knorr brand and Nestle’s Maggi brand,” he adds.
Al Alali’s Managing Director, Wael Habibi is very proud of the fact that over a relatively short period of time Al Alali has taken approximately 10% of the “chicken stock” market adding that their positioning of "Unsurpassed Quality" is a commitment to every consumer.
“This partnership is proof you don’t have to be a global multinational to succeed,” he said. ”Synergy derived from quality and expertise has combined in this instance to make us a formidable force.
Hydari says HBG’s partners have been asking the company to flex their muscles in the market.
“In this instance I think we have leveraged our market power and sales and distribution capabilities remarkably well,” he concludes.
Note to editors
HBG Holdings is a Dubai-headquartered, investment holding company investing in a diversified portfolio of businesses in the Middle East and South Asia (MESA) region. HBG is backed by prominent Gulf-based shareholders.
The company specializes in acquisitions, restructuring and turnaround opportunities in the fields of consumer distribution, logistics, manufacturing and real estate. The HBG management team has held senior positions in leading businesses including Olayan Group, Inchcape Middle East, Aramex, Saudi Telecom and National Commercial Bank and has a distinguished track record of delivering substantial returns from their investment portfolios.
HBG employs more than 500 people around the region. This workforce is expected to grow rapidly in line with HBG’s expansive growth policy.
