Jordan’s Fine branches out into nutrition supplements business

The CEO of Fine Hygienic Holding in Jordan said it is branching out into the nutritional supplement business as it looks to build the health sector as part of a five-year growth strategy.

The company has set strong growth targets and expects its wellness business, along with masks and health operations, to account for about half of its revenue. James Lafferty said the other half will be driven by the company’s core paper business the National.

“We’ve accelerated goals because we’re now 100 per cent into the wellness space with supplements and we already have two products launched,” he said.

The company now has three pillars: Consumer Papers; Masks, gloves and hygiene and wellness products.

“We have a completely new pillar … so we have very, very strong growth targets for the coming years,” he said.

In the context of wellness, Fine has launched two products – Motiva Neuro Booster which has been shown to improve cognitive function in severe Alzheimer’s patients and Motiva Immuno Booster – in the UAE.

It expects to gain regulatory approval from other jurisdictions to be able to officially launch it across the region.

Dietary supplements are produced in FDA approved facilities in the United States. However, Fine wants to move production to the MENA region within two years, Lafferty said.

“We have a third supplement coming in about a month, which is very exciting,” he said. “We expect tremendous growth.”

Fine was established in 1958, and is majority owned by the Jordanian Nuqul Group. In 2015, Standard Chartered Private Equity led a group of companies to invest in a minority stake worth $175 million.

The pandemic has boosted the spread of the company’s products, including masks and its line of long-lasting sanitizers, to markets across the Middle East and North Africa region and beyond.

Its core business fundamentals drove the company in 2020 to post revenue, which was also boosted by the sale of personal protective equipment and disinfection products. However, 2021 was just below the peak of 2020 as the demand for masks fell.

“We’ve always had a good basic job and we’ve had the whole mask and disinfection work on top of that,” Lafferty said. “The year 2021 has been a strong and ongoing paper business, [but] There was less demand for masks and disinfection [products]. “

We’ve accelerated goals because we’re now 100 percent into the wellness space with supplements and we’ve already had some products launched.

James Lafferty, CEO of Fine Hygienic Holding

He said Fine Paper’s business, which includes products from toilet and kitchen paper to facial tissues and sanitary napkins, is growing at a steady pace, because it is a “predictable business” and “Covid-19 has not had an impact” on it.

Lafferty said Fine has a long-term goal of $1 billion in sales per year the National In December 2020. The company exceeded its $75 million earnings before interest, tax, depreciation, and amortization (Ebitda) target for that fiscal year. However, he declined to reveal revenue or Ebitda details for 2021.

The company is still evaluating plans to list its shares with investment banks. However, she is “in no hurry” and does not need to raise capital from the stock markets. He said Fine will make the decision to list at “the appropriate time.”

He said Fine, which has invested around 450 million dirhams ($122.6 million) in the UAE market over the years, including a paper mill in Abu Dhabi, is optimistic about business prospects in the second largest economy in the Arab world and will continue to invest there.

The company recently expanded its offices in Dubai with the growth of the business.

In 2020, Fine announced plans to invest around $100 million to build its sixth paper mill in the Middle East and North Africa region. But, he hasn’t made a decision on the site yet, and he wants to complete a comprehensive study before committing a large sum to construct a new facility, Lafferty said.

Updated: January 15, 2022, 4:30 AM

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