Almarai, Saudi Arabia's largest dairy company by market value, said on Wednesday it had finalised an agreement to buy 75 per cent of a Jordanian beverage firm, its first foreign acquisition.

Almarai will its own cash to finance the purchase of the stake in Taibah's Investment and Advanced Food Company, a dairy and juice manufacturer valued at 474 million riyals ($126.4 million) debt excluded, Almarai said in a statement posted on the Saudi bourse website.

"This is Almarai's first takeover outside Saudi Arabia," it added. Taibah's founders will keep the remaining 25 percent stake.-Reuters