{"id":588705,"date":"2023-06-15T00:00:00","date_gmt":"2023-06-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/edita-is-now-the-owner-of-fancy-foods\/"},"modified":"2023-06-15T00:00:00","modified_gmt":"2023-06-15T00:00:00","slug":"edita-is-now-the-owner-of-fancy-foods","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/15\/edita-is-now-the-owner-of-fancy-foods\/","title":{"rendered":"Edita is now the owner of Fancy Foods"},"content":{"rendered":"

<\/span> Edita acquires Fancy Foods:<\/span> Edita Food Industries now owns 100% of local frozen <\/span>bakery producer Fancy Foods, it said in an <\/span>EGX disclosure (pdf)<\/a><\/span> y<\/span>esterday. Edita <\/span>signed an agreement to acquire<\/a><\/span> the company last month in a transaction that gave Fancy Foods an enterprise value of EGP 380 mn. The acquisition marks Edita\u2019s entry into the frozen bakery segment. <\/span><\/p>\n

Fancy Foods: <\/span>The company has two production lines for frozen pastries, bread, and desserts in Sixth of October.<\/span><\/p>\n

Next steps:<\/span>Edita <\/span>plans to invest <\/span>EGP 400 mn <\/span>to expand the business over the coming year, the company\u2019s IR head Menna Sham<\/span>s El Din told us previo<\/span>usly.<\/span><\/p>\n

Advisors:<\/span> Zilla Capital provided financial advice to Edita while Matouk Bassiouny & Hennawy served as legal counsel.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Edita will invest EGP 400 mn over the coming year to expand the business<\/p>\n","protected":false},"author":1,"featured_media":588706,"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-588705","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":"fa4dccfc-1425-4871-923e-45476a10c1a7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/733.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Edita completes acquisition of Fancy Foods","related_issue":[588698],"teaser":"Edita will invest EGP 400 mn over the coming year to expand the business","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.5e0c3da2-1348-4ae6-8a65-8d6ea4c77b12.mp3"},"yoast_head":"\nEdita is now the owner of 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\/06\/15\/edita-is-now-the-owner-of-fancy-foods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Edita is now the owner of Fancy Foods\" \/>\n<meta property=\"og:description\" content=\"Edita will invest EGP 400 mn over the coming year to expand the business\" \/>\n<meta property=\"og:url\" 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