The Jordan Capital and Investment Fund (JCIF) announced that it has finalized a significant investment to acquire a substantial minority stake in Al-Shaikh Cheese; a specialty dairy farm and cheese manufacturer operating in Jordan, focusing on specialty cheeses typically used in Middle Eastern desserts.
Established in 2007 by Abdul Salam Arqawi and his sons Zakaria, Ibrahim and Saleh, Al-Shaikh owns a dairy farm located in the Halabat area, with approximately 25% of total sales exported to over 10 countries, mainly Saudi Arabia, Kuwait, UAE, USA and Palestine.
At a signing ceremony launching the new partnership, JCIF Chairman, Hani Al-Qadi, stated, “We are keen to invest with exceptional entrepreneurs whom we believe have the vision and ability to grow and succeed, and we are committed to supporting and investing in pioneering companies like Al-Shaikh that have opportunities for growth, development and expansion. Our investment in Al-Shaikh will provide the company with the resources necessary to expand and upgrade its existing business to become a major dairy farm and cheese manufacturing company in Jordan and exporter to the region.”
In turn, Al-Shaikh CEO, Ibrahim Arqawi, commented, “Through our consistent commitment to quality, Al-Shaikh was able to build strong relationships with local and regional customers. Our reputation is the culmination of more than 75 years of the family’s deep-rooted generational experience in manufacturing Mashmouleh cheese. Our vision is to carry on the legacy of our dear father and preserve the unique knowledge and expertise passed down through generations, while adopting the highest standards of corporate governance and modern business practices.”
JCIF’s investment will be used to enhance the company’s internal production capacity of both internal milk and animal feed to reduce reliance on external purchases, achieve cost efficiency and improve profitability margins. “We will work to fully integrate the company’s operations, ranging from feed production and cow farming to cheese manufacturing and sales channels,” said JCIF CEO, Faris Sharaf. The first phase of the expansion plans is expected to cost over USD 20 million, primarily allocated to expanding the cow herd and associated land farms, as well as substantially investing in modern infrastructure and machinery for milk and cheese production. “Going forward, the company will increase its capacity and gain more control over the entire production cycle, resulting in a more stable supply chain, improved cost efficiencies and heightened quality control measures,” Sharaf added.
“We are delighted to welcome JCIF as a significant shareholder in our company,” said Al-Shaikh Cheese Chairman, Zakaria Arqawi. “We hope to foster a genuine partnership built on trust, collaboration and ambition. JCIF offers institutional credibility, solid strategic expertise and strong dependability to support our future plans.”
The Jordan Capital and Investment Fund (JCIF) is wholly owned by 16 Jordanian commercial and Islamic banks and is the largest private-sector investment fund in Jordan with a capital commitment of JOD 275 million (USD 388 million). The fund aims to invest in pioneering companies with opportunities for growth, development, and expansion by providing fresh capital to help increase employment and promote economic growth across Jordan. JCIF targets investments in dynamic and promising sectors, notably in the fields of food and health security, manufacturing, and information and communications technology (ICT), with the aim of unleashing Jordan’s potential to build for the future.
