Edita secures EGP 500 mn loan to boost production capacity

Edita Food Industries has lined up fresh funding to expand production capacity, according to a disclosure to the EGX (pdf). The company secured a seven-year, EGP 500 mn medium-term loan from an undisclosed lender to refinance the acquisition and refurbishment of production lines, directly supporting the company’s push to scale up production capacity.

Edita’s second debt agreement in as many months: The EGX-listed snackmaker has been courting lenders to underwrite its expansion plans, having secured an EGP 600 mn loan from Arab Bank Egypt last month to support its EGP 4 bn investment program for the year. The funds will help Edita establish new production lines across Egypt, Morocco, and Iraq.

REMEMBER- The company has been working to expand its footprint beyond Egypt. Earlier this year, it acquired the exclusive rights to the HoHos, Twinkies, and Tiger Tail brands across an additional 45 African countries.