UAE’s Aghthia takes bigger bite of Abu Auf: ADX-listed food giant Aghthia Group nabbed an additional 10% stake in homegrown snack-maker Abu Auf, bringing its total holding in the specialty nut and date processor to 80%, it said in a filing (pdf) to the ADX. The financial terms of the transaction were not disclosed.

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Not the first we’re hearing of it: Aghthia — majority-owned by Abu Dhabi sovereign wealth fund ADQ — has been gradually upping its stake in the company. The Emirati food giant first acquired a 60% interest in Abu Auf back in 2022 before it secured another 10% in February 2024.

The move strengthens Agthia’s foothold in Egypt’s fast-growing food market and bolsters its local operations, which contributed 20% of total revenues in 2024, up from 15-16% the previous year, despite economic headwinds.

Abu Auf, by the numbers: Abu Auf has expanded aggressively since the acquisition, opening 100 new stores over the past two years. The company reported a 33% y-o-y jump in revenues in 2024 in AED, despite the float of the EGP, with EBITDA soaring by over 70% y-o-y in AED terms.

What they said: “With Agthia’s scale and expertise, Abu Auf has accelerated on the growth journey and remains firmly committed to continued innovation and expansion,” Abu Auf CEO Ahmed Auf said.

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