Spinneys Jordan on the up

The food distribution specialist reports a spectacular turnaround in fortunes since the arrival of new owners.

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By  Robbie Greenfield Published  April 8, 2005

Spinneys Jordan, a food & beverage distribution company, says it has achieved remarkable growth in the first six months since being acquired by Dubai-based HBG Holdings. After posting a net loss on annual sales for 2003 of just US $23 million, the firm’s fortunes have been improved by a major restructuring program and a signifcant cash injection from HBG. “The 2005 forecast for Spinneys Jordan is for sales of over US $40 million — and a healthy profit is projected,” says Husam Shalabi, general manager, Spinneys Jordan. Sales are predicted to rise steadily over the next three to four years, possibly hitting US $70 million. “This has been achieved by reviewing, very closely, the operation of our state-of-the-art distribution centre in Amman and refining processes, in order to enhance logistics efficiency and therefore improve customer and principal service,” Shalabi adds. Over the last few years, Spinneys Jordan has built up a comprehensive brand portfolio of fast moving consumer goods manufacturers, including Unilever, Kraft Foods, Heinz, Kellogg Company, Wrigley, Najjar Coffee and Chupa Chups. “As a result of the positive growth we are currently achieving, Spinneys Jordan is now looking at the possibility of extending its reach in Jordan and beyond,” says Shalabi.

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