Edita steps into the Iraqi market through acquiring stake in Tuama Jebur Abbas: Edita Food Industries acquired 49% of Baghdad-based snack maker Tuama Jebur Abbas (TJA) through a capital increase in a USD 8 mn transaction, marking the snackmakers first entry into the Iraqi market, Edita said in a press release (pdf).

TJA? Tuama Jebur Abbas is a family-owned snack manufacturer that focuses on high-quality packaged snacks. Its local presence in the Iraqi market and factory make it “well-equipped to support Edita’s expansion in Iraq.”

Transaction details: The acquisition gives Edita access to a three-production line factory — two lines for cake and one for biscuits. The two sides will also implement a “technical know-how and manufacturing assistance agreement, focusing on maximizing production capacity, efficiency, and control.”

Introducing Edita Iraq: The acquisition agreement establishes Edita Iraq, giving Edita management control. “A trademark agreement will secure the rights to launch Edita’s brand portfolio in Iraq, broadening the company’s product range and market presence,” the release reads.

An untapped market: “Iraq’s growing economy and untapped snack food market present a unique opportunity for us to establish a national champion. We’re excited to partner with TJA, whose local expertise will help us bring Edita’s innovation to Iraqi consumers,” Edita Group Chairman and CEO Hani Berzi said.

Big investment plans: “This strategic investment is a significant milestone and will be a key growth driver for Edita. The acquisition of TJA will allow us to quickly enter the Iraqi market, with plans to invest over USD 27 million over the next three years,” Edita Chief Investment Office and Corporate Affairs Menna Shams El Din said. “These investments will expand operations, more than double production capacity, and unlock new opportunities in the packaged snack food market, delivering sustained long-term value for our investors.”

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