Manufacturing UAE’s Agthia Group expands in Saudi and Egypt By Pramod Kumar August 16, 2022, 5:33 AM Creative Commons The total value of the acquisitions carried out by Abu Dhabi-listed Agthia Group exceeded $106 million last year Acquisitions worth over $106mn last year Invests AED 90m in expanding across Saudi ArabiaLow debt levels and a solid financial position Agthia Group, one of the region’s leading food and beverage companies, is expanding and making strategic acquisitions in Egypt and Saudi Arabia following strong H1 2022 growth to AED 2.3 billion ($106 million). The group, which has a consumer division – including protein, frozen goods, snacks, water and beverages – and an agri-business division, has acquired a 60 percent stake in Egypt’s Auf Group, a specialised healthy snacks and coffee manufacturer and retailer. The company will soon also invest nearly AED 90 million into expansion plans in Saudi Arabia to establish a new industrial facility within the premises of Al Nabil Food Industries in Jeddah. Alan Smith, CEO of Agthia, said: “Recent milestones, including expansion of our protein business in Saudi Arabia and the acquisition of Egypt-based Auf Group will further support the realisation of our five-year strategy as we capitalise on our strengthening momentum. “Despite ongoing market challenges, and I am confident that we have the right foundations in place to maintain our momentum in the second half of the year.” Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
