UBF to establish EGP 40 mn factory to produce for Cinnabon

The United Beverage and Food Company (UBF), Cinnabon’s local agent, is planning to set up a EGP 40 mn factory in 1Q2020 to provide Cinnabon Egypt select production inputs, UBF General Manager Mohamed Nagy tells the local press. The facility, which will be self-financed, is meant to wean Cinnabon Egypt off importing raw materials for its food products and rely instead on locally sourced goods.