{"id":655032,"date":"2024-11-12T00:00:00","date_gmt":"2024-11-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/"},"modified":"2024-11-12T00:00:00","modified_gmt":"2024-11-12T00:00:00","slug":"tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/","title":{"rendered":"Tanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd"},"content":{"rendered":"

It turns out<\/strong> Tanmiya Capital Ventures has a sweet tooth:<\/strong> Egypt\u2019s Competition Authority approved a filing by Tanmiya Capital Ventures (TCV) to acquire a 20.9% stake in El Abd for Investment, Manufacturing, and Sweet Trading, according to a statement<\/a> from the Egyptian Competition Authority. We\u2019re yet to find out how much TCV will put forward for the stake in the local confectionery company.<\/p>\n

What\u2019s the money for?<\/strong> \"The investment is going all into a capital increase to fuel the company\u2019s growth in opening new branches and finishing its new facility,\u201d TCV Managing Partner Mohamed Mahgoub told EnterpriseAM<\/p>\n

But don\u2019t expect any radical leadership changes ahead: \u201d<\/strong>The family is not selling and will continue managing the business,\u201d Mahgoub clarified.<\/p>\n

What\u2019s next?<\/strong> The acquisition will reach a close within two months,according to Mahgoub.<\/p>\n

Tanmiya is no stranger to the country\u2019s F&B sector: <\/strong>Alongside its 10% stake in local food<\/a>company<\/a>Auf Group<\/a> \u2014 the company behind Abu Auf<\/a> \u2014 Tanmiya also has stakes in local food players Mifad<\/a> and Plant Form<\/a>. Tanmiya\u2019s TCV II fund has also pointed to F&B companies<\/a> as among its main targets and leading figures from the firm have often spoken about their appetite for more local F&B acquisitions<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investment will go towards opening new branches and finishing a new facility<\/p>\n","protected":false},"author":1,"featured_media":655033,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[72,564,7128,8524],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-food","tag-ma-watch","tag-tanmiya-capital-ventures","wpautop","entry"],"acf":{"mongo_id":"13d42e90-86ba-43f4-b522-ae0c65095d53","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1023.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Tanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd","related_issue":[655017],"teaser":"The investment will go towards opening new branches and finishing a new facility","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.109d1f21-f4d3-4a5f-9062-a27f41d11c3e.mp3"},"yoast_head":"\nTanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd - 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\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd\" \/>\n<meta property=\"og:description\" content=\"The investment will go towards opening new branches and finishing a new facility\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-12T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1023.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Tanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd\",\"datePublished\":\"2024-11-12T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\"},\"wordCount\":225,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1023.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"food\",\"M&A Watch\",\"Tanmiya Capital Ventures\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/tanmiya-capital-ventures-to-pick-up-20-9-stake-in-local-confectionary-leader-el-abd\/\",\"name\":\"Tanmiya Capital Ventures to pick up 20.9% stake in local confectionary leader El Abd - 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TCV\u2019s other partners include founding partner Ahmed El Guindy (former head of investment banking at EFG Hermes), ex-Raya Holding Chief Investment Officer Karim Hassan and former EFG Hermes investment banker Omar Ekram.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":618635,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/egyptian-american-enterprise-fund-to-finance-tanmiya-capital-ventures-fund-plus-city-lab-stake-sale-fast-approaching\/","url_meta":{"origin":655032,"position":1},"title":"Egyptian-American Enterprise Fund to finance Tanmiya Capital Ventures fund. PLUS: City Lab stake sale fast approaching","author":"enterpriseam admin","date":"17 April 2024","format":false,"excerpt":"The Egyptian-American Enterprise Fund will provide USD 50 mn in financing for Tanmiya Capital Ventures\u2019 upcoming fund","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\/2024\/1\/1403.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582911,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/15\/tcv-plans-to-spend-usd-30-mn-to-add-two-food-companies-to-its-portfolio\/","url_meta":{"origin":655032,"position":2},"title":"TCV plans to spend USD 30 mn to add two food companies to its portfolio","author":"enterpriseam admin","date":"15 March 2023","format":false,"excerpt":"The PE outfit wants sizable minority stakes in the two firms","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\/2023\/3\/Egyptian-food-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582154,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/eaef-wants-to-invest-up-to-usd-50-mn-in-egypt-this-year\/","url_meta":{"origin":655032,"position":3},"title":"EAEF wants to invest up to USD 50 mn in Egypt this year","author":"enterpriseam admin","date":"2 March 2023","format":false,"excerpt":"EAEF looking to reinvest Auf Group sale proceeds in our food, healthcare + agriculture sectors: The Egyptian-American Enterprise Fund (EAEF) plans to reinvest some of the proceeds from its sale of a stake in local snackmaker Auf Group in local businesses and funds, Vice President Cornelius Queen told us yesterday.\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/EGP-1600-px-1-1.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":636808,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/tcv-closes-second-growth-capital-transaction-in-misr-food-investment\/","url_meta":{"origin":655032,"position":4},"title":"TCV closes second growth capital transaction in Misr Food Investment","author":"enterpriseam admin","date":"1 November 2017","format":false,"excerpt":"INVESTMENT WATCH- TCV closes second growth capital transaction in food additives provider Misr Food Investment: Egypt\u2019s TCV (formerly Tanmiya Capital Ventures) announced in a release yesterday (pdf) that its mid-cap investment fund TCV1 has closed its second growth capital transaction in food additives provider Misr Food Investment. TCV announced it\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648119,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/29\/bank-of-alexandria-tcv-sign-cooperation-protocol\/","url_meta":{"origin":655032,"position":5},"title":"Bank of Alexandria, TCV sign cooperation protocol","author":"enterpriseam admin","date":"29 May 2017","format":false,"excerpt":"The Bank of Alexandria and Tanmiya Capital Ventures (TCV) have inked a cooperationprotocol that will effectively see Bank of Alexandria feed private equity outfit TCV potential investment candidates, while TCV will steer portfolio companies seeking bank financing to Alexbank. TCV typically looks at investments with an EGP 35-100 mn ticket\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655032","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=655032"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655032\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/655017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/655033"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=655032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=655032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=655032"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=655032"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=655032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}