United Arab Emirates (UAE)-based alternative investment company GII has completed a minority share investment in Hotpack Global Holding, a food packaging producer in the Gulf Cooperation Council (GCC), according to a press release posted on Zawya.
The investment will fund Hotpack’s further growth including higher output from recently opened production lines and the group’s international expansion plans.
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The packaging company is planning to launch a new plant in Al Kharj, Saudi Arabia.
It is supported by long-term supply deals with major clients and is expected to raise the company’s manufacturing capacity in Saudi Arabia, as per the release.
The Saudi project is linked to Vision 2030 goals including the development of local manufacturing and the domestic production of essential consumer goods, as well as supply chain stability and industrial jobs.
GII co-founders and co-CEOs Mohammed Alhassan and Pankaj Gupta said: “The completion of GII’s investment in Hotpack is our latest deal, as our group of companies marks its 12th anniversary of successful Shari’ah-compliant investments across the GCC and beyond. We look forward to working closely with Hotpack’s other board members to drive its continued expansion and business success.”
Hotpack was established in 1995 and is based in Dubai, UAE.
It makes and supplies food packaging products and operates in 12 countries, with offerings across plastics, paper, aluminium and other sustainable materials.
The company says it serves in excess of 25,000 customers in more than 100 countries through 25 factories, 47 warehouses and 35 sales centres worldwide.
Hotpack Global founder and managing director Abdul Jebbar said: “This partnership marks an important milestone in Hotpack’s journey. Over the past three decades, we have built a business that is deeply rooted in this region but increasingly global in its reach.
“GII’s investment gives us the momentum to accelerate our next phase of growth – expanding manufacturing capacity, entering new markets and continuing our shift towards sustainable packaging. We are proud to have GII as a partner that shares our long-term vision.”
