{"id":587615,"date":"2023-05-30T00:00:00","date_gmt":"2023-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/edita-to-acquire-frozen-bakery-producer-fancy-foods\/"},"modified":"2023-05-30T00:00:00","modified_gmt":"2023-05-30T00:00:00","slug":"edita-to-acquire-frozen-bakery-producer-fancy-foods","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/edita-to-acquire-frozen-bakery-producer-fancy-foods\/","title":{"rendered":"Edita to acquire frozen bakery producer Fancy Foods"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Edita Food Industries has signed an agreement to acquire 100% of frozen bakery producer <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.facebook.com\/FancyFoods.EG\/\" style=\"\">Fancy Foods<\/a><\/span><span style=\"\">, it said <\/span><span>in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1602.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span> yesterday. The transaction will see the company enter<\/span><span> the frozen bakery segment for the first time, giving it access to a largely untapped market, it said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Fancy Foods:<\/span><span style=\"font-weight:400;\">The company produces a range of frozen pastries, bread and desserts from its Sixth of October factory, which has two production lines. The transaction gave the company an enterprise value of EGP 380 mn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Edita plans to invest EGP 400 mn to expand the business over the coming year<\/span><span style=\"font-weight:400;\">, the company\u2019s IR head Mena Shams El Din told Enterprise yesterday. \u201cThe segment remains young in Egypt but we plan to upscale Fancy Foods\u2019 manufacturing capacity to capture untapped demand,\u201d she said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said:<\/span><span style=\"font-weight:400;\">\u201c[The acquisition] made perfect sense for us,\u201d said Shams El Din. \u201cFancy Foods has huge potential for growth and it has a lot of synergies between Editas existing business lines.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Advisors:<\/span><span> Zilla Capital provided financial advice to Edita while Matouk Bassiouny & Hennawy served as legal counsel.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Edita to invest EGP 400 mn over the next year to expand the business<\/p>\n","protected":false},"author":1,"featured_media":587616,"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":[191,72,10632,564,125,7128,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-edita","tag-enterpriseam","tag-fancy-foods","tag-food","tag-investment-watch","tag-ma-watch","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"3e180ead-2cd4-4dd4-8f3a-c3c4ac70467e","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1605.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian food company Edita to acquire frozen bakery producer Fancy Foods","related_issue":[587606],"teaser":"Edita to invest EGP 400 mn over the next year to expand the business","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.44cdd996-03eb-4cf7-a804-9caffc1cf681.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Edita to acquire frozen bakery producer Fancy Foods - 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\/2023\/05\/30\/edita-to-acquire-frozen-bakery-producer-fancy-foods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Edita to acquire frozen bakery producer Fancy 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