{"id":548667,"date":"2022-08-17T04:00:13","date_gmt":"2022-08-17T04:00:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/17\/auf-group-acquires-majority-stake-in-local-snacks-player\/"},"modified":"2022-08-17T04:00:13","modified_gmt":"2022-08-17T04:00:13","slug":"auf-group-acquires-majority-stake-in-local-snacks-player","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/17\/auf-group-acquires-majority-stake-in-local-snacks-player\/","title":{"rendered":"Auf Group acquires majority stake in local snacks player"},"content":{"rendered":"

<\/a> Auf Group makes its first acquisition of the ADQ era: <\/strong>Egyptian food outfit Auf Group has acquired a 75.5% stake in Modern International Confectionery Co (MICC<\/a>), Chief Marketing Officer Rasha Ghaly confirmed to Enterprise. Auf Group declined to make public the value of the transaction. The acquisition comes less than a month after Abu Dhabi wealth fund ADQ acquired<\/a> a 60% stake in the company for EGP 2.9 bn via its F&B subsidiary Agthia.<\/p>\n

The two companies already had a relationship: <\/strong>MICC was already a supplier to Auf Group prior to the acquisition, according to its website.<\/p>\n

What does MICC do? <\/strong>The company produces<\/a> a wide range of pretzels as well as soft and hard candies.<\/p>\n

More money, more pretzels:<\/strong> Auf Group plans to invest USD 400k in MICC to expand production of its pretzel line and other products, as well as increase exports, Ghaly said.<\/p>\n

And a healthy makeover: <\/strong>Auf plans to offer in the future \u201chealthier versions of [MICC brand] snacks including biscuits and wafers,\u201d she said.<\/p>\n

REMEMBER\u2013 Auf plans to invest EGP 60 mn in 2022<\/strong> to boost its manufacturing capacity, Ghaly told us following its acquisition by Agthia in July. Auf will first target upping regional exports and will follow that up with USD 5-7 mn of investment in 2023 as it expands in the Gulf, she said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Auf Group makes its first acquisition of the ADQ era: Egyptian food outfit Auf Group has acquired a 75.5% stake in Modern International Confectionery Co (MICC), Chief Marketing Officer Rasha Ghaly confirmed to Enterprise. Auf Group declined to make public the value of the transaction. The acquisition comes less than a month after Abu Dhabi […]<\/p>\n","protected":false},"author":1,"featured_media":548668,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[1709,299,1326,2264,72,900,7128,2265,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-abu-auf","tag-adq","tag-agthia","tag-auf-group","tag-enterpriseam","tag-food-and-beverage","tag-ma-watch","tag-modern-international-confectionery-company","tag-uae","wpautop","entry"],"acf":{"mongo_id":"b4a52187-d15a-4210-8309-1589fd060e86","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/290.jpg","photo_position":"above","related_issue":[548659],"teaser":"","voice_url":""},"yoast_head":"\nAuf Group acquires majority stake in local snacks player - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/17\/auf-group-acquires-majority-stake-in-local-snacks-player\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auf Group acquires majority stake in local snacks player\" \/>\n<meta property=\"og:description\" content=\"Auf Group makes its first acquisition of the ADQ era: Egyptian food outfit Auf Group has acquired a 75.5% stake in Modern International Confectionery Co (MICC), Chief Marketing Officer Rasha Ghaly confirmed to Enterprise. Auf Group declined to make public the value of the transaction. 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The stake was sold by three members of the Auf family as well as Tanmiya\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/7.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547851,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/17\/adqs-agthia-to-buy-majority-stake-in-auf-group\/","url_meta":{"origin":548667,"position":1},"title":"ADQ\u2019s Agthia to buy majority stake in Auf Group","author":"enterpriseam admin","date":"17 July 2022","format":false,"excerpt":"Abu Auf parent company is selling a majority stake to Agthia: Emirati food and beverage major Agthia will acquire 60% of Egyptian healthy food company Auf Group for EGP 2.9 bn, the company said in a disclosure (pdf) to the Abu Dhabi stock exchange on Thursday. Agthia, which is majority-owned\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/167.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545860,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/14\/abu-dhabi-sovereign-fund-confirms-blockbuster-egx-stake-buys-could-abu-auf-be-next-in-line-for-adx-investment\/","url_meta":{"origin":548667,"position":2},"title":"Abu Dhabi sovereign fund confirms blockbuster EGX stake buys + Could Abu Auf be next in line for ADX investment?","author":"enterpriseam admin","date":"14 April 2022","format":false,"excerpt":"ADQ speaks on EGX acquisitions: Abu Dhabi wealth fund ADQ has confirmed its acquisition of stakes in five EGX-listed companies this week, saying in a statement yesterday that the move reflects its \u201ccontinued confidence in Egypt\u2019s strong economic potential.\u201d The fund acquired shares in CIB, Fawry, Abu Qir Fertilizers, Mopco,\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548239,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/delta-sugar-denies-its-the-subject-of-an-adq-takeover-bid\/","url_meta":{"origin":548667,"position":3},"title":"Delta Sugar denies it\u2019s the subject of an ADQ takeover bid","author":"enterpriseam admin","date":"1 August 2022","format":false,"excerpt":"ADQ is being linked to everyone right now: Delta Sugar has denied knowledge of a rumored acquisition bid by Abu Dhabi wealth fund ADQ, saying in a disclosure (pdf) to the EGX yesterday that it has not received any offers. A report in the domestic press last week that ADQ\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":552160,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/this-evening-auf-group-snaps-up-75-5-of-modern-international-confectionery-its-a-mixed-bag-out-in-the-international-press\/","url_meta":{"origin":548667,"position":4},"title":"THIS EVENING: Auf Group snaps up 75.5% of Modern International Confectionery + It\u2019s a mixed bag out in the international press","author":"enterpriseam admin","date":"16 August 2022","format":false,"excerpt":"Happy hump day, ladies and gentlemen. It\u2019s a mixed day on the news front today \u2014 not too busy here at home, but not quite what we would call a \u201cslow\u201d day.THE BIG STORY TODAY Auf Group grabs local snacks player: Egyptian healthy food company Auf Group acquired a 75.5%\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":661094,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/23\/abu-dhabis-aghthia-group-now-owns-80-of-abu-auf\/","url_meta":{"origin":548667,"position":5},"title":"Abu Dhabi\u2019s Aghthia Group now owns 80% of Abu Auf","author":"enterpriseam admin","date":"23 February 2025","format":false,"excerpt":"The financial terms of the transaction were not disclosed","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2093.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548667"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548667\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548659"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548668"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548667"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548667"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}