As part of its global expansion plans, and a strategy of diversification and scalability, Obeikan Investment Group “OIG” reached an agreement with its partner SIG Combibloc Group AG (SIG), for SIG to acquire full ownership of SIG Combibloc Obeikan Group (CBOB) after a remarkable joint venture partnership over the last nineteen years.
According to the agreement, Abdallah Obeikan, CEO – OIG, will be nominated for election to the board of directors of SIG, representing the Obeikan Family, also OIG will hold around 5% of the total shares in SIG, CEO – OIG, which makes Obeikan Investment Group the largest single shareholder within SIG globally. It is expected that this strategic move will help in rejuvenating Obeikan’s core packaging business, enabling Obeikan to continue as a key player in delivering integrated packaging solutions to MEA region, and with this global reach, accelerate the growing focus on digital business solutions.
It is worth mentioning that SIG is one of the largest systems and solutions provider for aseptic packaging in the world. The company offers packaging solutions for food and beverages companies, as well as provides spare parts, maintenance, training, digital, and other related services globally.