SARCO unit buys 85% of Advanced Supplies for SAR 12M

Masafi Ventures Co., a subsidiary of Saudi Arabian Refineries Co. (SARCO), acquired an 85% stake in Advanced Industrial Supplies Co. for SAR 12 million.

The stake was bought from ADWAA ALKHALIL Contracting Co. and will be fully financed through the company's own resources, SARCO said in a Tadawul statement.

Advanced Industry manufactures wooden and aluminum doors and kitchens. It also produces wooden décor.

SARCO said the acquisition supports Masafi Venture's strategic objectives and aligns with its long-term plan to diversify revenue streams and invest directly in operating businesses.

The company expects the transaction to have a positive impact on its financial statements by the end of Q4 2026.