{"id":565484,"date":"2021-04-12T13:33:39","date_gmt":"2021-04-12T13:33:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/emirati-foods-group-agthia-has-big-plans-for-egypt-and-mena\/"},"modified":"2021-04-12T13:33:39","modified_gmt":"2021-04-12T13:33:39","slug":"emirati-foods-group-agthia-has-big-plans-for-egypt-and-mena","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/emirati-foods-group-agthia-has-big-plans-for-egypt-and-mena\/","title":{"rendered":"Emirati foods group Agthia has big plans for Egypt and MENA"},"content":{"rendered":"

<\/a> Egypt is a priority market for UAE-based foods group Agthia<\/strong>, which plans to become a MENA leader by 2025 through boosting efficiency and striking more M&A agreements, Chief Executive Alan Smith tells Reuters<\/a>. The company is currently in talks to acquire 75% of Ismailia Agricultural and Industrial Investments, the frozen meat and poultry producer which owns the Atyab brand and other brands in Egypt. Agthia\u2019s board of directors approved the EGP 3.2 bn bid last week<\/a>, putting the acquisition on track to close before the end of 1H2021. The agreement will primarily be financed through bank debt, Smith told the newswire today but gave no further details.<\/p>\n

Saudi Arabia, Kuwait, Oman, and Turkey are also important markets<\/strong> for the subsidiary of Abu Dhabi\u2019s investment arm ADQ<\/strong>, Smith says, noting that Pakistan is another country on the Emirati company\u2019s radar. Agthia is planning to smooth into the corporate transition through hiring more strategically and bringing on board executives with prior experience in running large multinational firms, he adds.<\/p>\n

Expansion through acquisition: <\/strong>Agthia, whose main products include baked goods, frozen foods, and bottled water, has a market capitalization of USD 1.3 bn, which is lower than its regional rivals Saudi\u2019s Almarai and Savola Group, notes the newswire. But the company has recently been expanding primarily through acquisitions. The group earlier this year closed a takeover bid of Kuwait\u2019s Al Faysal Bakery and Sweets<\/a> and is close to wrapping up a separate agreement to buy out Amman-based Nabil Food Industries<\/a> that is pending regulatory approvals<\/a>. It also acquired Emirati dates producer Al Foah<\/a> around the same time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt is a priority market for UAE-based foods group Agthia, which plans to become a MENA leader by 2025 through boosting efficiency and striking more M&A agreements, Chief Executive Alan Smith tells Reuters. The company is currently in talks to acquire 75% of Ismailia Agricultural and Industrial Investments, the frozen meat and poultry producer which […]<\/p>\n","protected":false},"author":1,"featured_media":565485,"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":[10036],"tags":[299,1326,633,900,125,3552,345],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-investment-watch","tag-adq","tag-agthia","tag-enterprisepm","tag-food-and-beverage","tag-investment-watch","tag-ismailia-agricultural-and-industrial-investments","tag-mena","wpautop","entry"],"acf":{"mongo_id":"7ca3efa0-b965-49dd-b7fa-b7054a29e317","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/394.jpeg","photo_position":"above","related_issue":[565481],"teaser":"","voice_url":""},"yoast_head":"\nEmirati foods group Agthia has big plans for Egypt and MENA - 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\/2021\/04\/12\/emirati-foods-group-agthia-has-big-plans-for-egypt-and-mena\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Emirati foods group Agthia has big plans for Egypt and MENA\" \/>\n<meta property=\"og:description\" content=\"Egypt is a priority market for UAE-based foods group Agthia, which plans to become a MENA leader by 2025 through boosting efficiency and striking more M&A agreements, Chief Executive Alan Smith tells Reuters. 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The takeover, which could be valued at up to EGP 3.2\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-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":558470,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/11\/adqs-agthia-may-finalize-atyab-acquisition-this-month\/","url_meta":{"origin":565484,"position":1},"title":"ADQ\u2019s Agthia may finalize Atyab acquisition this month","author":"enterpriseam admin","date":"11 August 2021","format":false,"excerpt":"ADQ Holding\u2019s Agthia could close its Atyab takeover this month: Emirati state-owned investment firm ADQ Holding\u2019s food subsidiary Agthia is in the final stages of acquiring 75% of Atyab brand owner Ismailia Agricultural and Industrial Investments. The Emirati sovereign wealth fund is on track to finalize the transaction before the\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\/2021\/8\/145.jpeg?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":565484,"position":2},"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":544559,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/09\/agthia-still-has-its-eye-on-egypt-acquisitions\/","url_meta":{"origin":565484,"position":3},"title":"Agthia still has its eye on Egypt acquisitions","author":"enterpriseam admin","date":"9 March 2022","format":false,"excerpt":"UAE\u2019s Agthia eyes more Egyptian acquisitions following more than sixfold growth in net income: Emirati state-owned investment firm ADQ Holding\u2019s food subsidiary Agthia has around AED 1.5 bn (USD 408 mn) of \u201cfirepower\u201d to spend on potential acquisitions in Egypt, Saudi Arabia, Pakistan and Turkey, CEO Alan Smith told Reuters,\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":582870,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/agthia-wants-to-make-egypt-into-an-export-hub-plus-news-from-the-suez-canal-seii-agility-and-telecoms\/","url_meta":{"origin":565484,"position":4},"title":"Agthia wants to make Egypt into an export hub. PLUS: news from the Suez Canal, SEII, Agility and telecoms","author":"enterpriseam admin","date":"9 March 2023","format":false,"excerpt":"Agthia acquired a majority stake in Auf Group last year","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Agthia-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564790,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/bidding-war-for-alex-medical-heats-up\/","url_meta":{"origin":565484,"position":5},"title":"Bidding war for Alex Medical heats up...","author":"enterpriseam admin","date":"28 February 2021","format":false,"excerpt":"Speed Medical could partner with Tawasol for Alex Medical acquisition bid: Tawasol Holdings appears to be exploring teaming up with Speed Hospitals Company \u2014 a subsidiary of Speed Medical \u2014 on its potential acquisition of 100% of Alexandria Medical Services, Al Mal reports, quoting sources close to Speed Medical. 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