Agthia Group continues to expand in the fast-growing snack market with the acquisition of Aouf Group

Agthia Board of Directors approves acquisition of Auf Group

The “Auf” group is an Egyptian company operating in the field of healthy snacks and coffee under the “Abu Auf” brand, and it sells its products directly to customers

Aouf Group plans to expand and strengthen its presence outside the Egyptian market, and has opened stores in the United Arab Emirates

The acquisition of Auf Group will help strengthen Agthia’s position in the snack food market

Abu Dhabi, United Arab Emirates: Agthia Group PJSC, the leading regional food and beverage company, today announced the approval of its board to proceed with the strategic acquisition of a 60% stake in Aouf Group, one of the largest companies in the food and beverage industry. And sells healthy coffee and snack products in Egypt.

It is noteworthy that the “Auf” group was founded in 2010, processing, manufacturing, selling and distributing a variety of products throughout Egypt, including coffee, nuts, healthy snacks and sweets, all under the “Abu Auf” – brand is sold. . This transaction contributes to improving Agthia’s presence in the snack market in Egypt and to strengthening its leading position in the canned consumer goods sector in Egypt, especially after establishing a strong presence there last year through the acquisition of “Atyab “company, the leading meat production company and frozen poultry.

The acquisition reflects Agthia’s commitment to strengthening its business and diversifying its consumer business segment. This transaction is a continuation of Agthia’s acquisition last year of BMB Group, the leading provider of healthy snacks and innovative foods in the GCC, and Al Foah Dates Company, which will enhance Agthia’s market presence in both product categories and channel distribution.

On this occasion, Khalifa Sultan Al Suwaidi, Chair of Agthia Group, said: “Our focus is on expanding Agthia’s presence and strengthening its position in the Middle East, North Africa and Pakistan, as part of our strategy. .

To promote growth and improve the efficiency of our operations. The acquisition of Auf Group represents an important opportunity to achieve this, as it helps to consolidate our presence in one of the fastest growing consumer markets in the region. We are confident that Auf Group will support Agthia’s growth journey now and in the future, especially after Agthia’s record performance in the first quarter of 2022. ”

In turn, Alan Smith, CEO of Agthia Group, said: “The acquisition of Auf is an important strategic step for Agthia Group, as it is critical to the growth of the group’s snacks and healthy food segments, as we continue a more business model. “In addition to the benefits of this transaction to quickly create new revenue streams and product lines, we are also excited about expanding our presence in Egypt and completing the acquisitions we made last year with the goal of strengthening and expanding our operations. to expand our revenue base. “

Ahmed Auf, CEO of Auf Group, said: “Auf has seen significant and sustainable growth in Egypt since its inception in 2010, and has continuously invested in institutional infrastructure and human capital, which has contributed to the building of a distinctive brand. and maintaining its leadership in the The Market for Healthy Snacks in Egypt. After working with an institutional investor in 2019 to accelerate the company’s growth and realize our vision, we confirm today that we are ready to move on to the next phase of our journey. On this occasion, we would like to thank our employees, customers and suppliers for their continued support, and we look forward to The promising prospects for our partnership with Agthia to enhance our presence, realize our potential and achieve our goals in the UAE and expanding abroad.

During the past 12 months ending 31 December 2021, Auf Group recorded total revenue of approximately 236 million dirhams and EBITDA of approximately 58 million dirhams, while EBITDA margins amounted to approximately AED 236 million. Debt 25%.

It is noteworthy that the deal will be represented in Agthia’s acquisition of a 60% stake in the “Auf” group, with the founders of “Of” retaining a total stake of 30% and continuing to own the group to lead by taking advantage of the regional presence and operational support of the “Agthia” group. Tanmia Capital Ventures, an Egyptian private equity investment firm, will retain the remaining 10% stake in Auf Group, which it acquired in 2019.

Completion of the procurement will be subject to the obtaining of the necessary approvals from the regulatory authorities and the completion of all required regulatory documents.

It is noteworthy that “Freshfields Bruckhaus Deringer” acts as an international legal adviser, “Matouk Bassiouni & Hennawy” acts as a legal adviser in Egypt for Agthia Group, while “CI Capital” acts as a financial adviser to the Agthia Group.

#companydata

– is over –

About Agthia Group:

The Abu Dhabi-based Agthia group is; One of the leading companies in the field of food and beverage production. The group, which was established in the Abu Dhabi Stock Exchange in 2004 under the name “Agthia”, is a subsidiary of “Agthia Holding” (ADQ), one of the largest holding companies in the region, which has a wide portfolio of large companies working in key sectors within Abu Dhabi’s diversified economy.

Agthia has assets in the United Arab Emirates, Saudi Arabia, Kuwait, Oman, Egypt, Turkey and Jordan. The group operates a global portfolio of integrated companies, providing a diversified range of innovative high-quality food and beverages, and the group supplies its products to consumers in the United Arab Emirates, the Gulf Cooperation Council, Turkey and the Middle East. region. The group employs more than 9,300 people who are responsible for the manufacture, distribution and marketing of a variety of products in the following sectors: Consumer business (Al Ain Water, Al Bayan, Alpine Natural Spring Water, Ice Crystal, Foss, Al Ain Tomato) Paste and Al Ain Commercial Products); Snacks (Al Foah Dates, Yoplait, Al Faisal Bakery & Sweets, and BMB); Meat and chilled and frozen products (Al-Nabil Food Industries, Atyab, and Al Ain frozen vegetables); Agribusiness (Grand Mills, Agrivita).

For more information, please visit our website: www.agthia.com or contact us by email: corpcoms@agthia.com

About Aouf Group:

Aouf Group manufactures healthy snacks and coffee and owns specialty stores. It is headquartered in Egypt with a presence in the United Arab Emirates and the Netherlands. With more than 1,900 employees, the group currently operates more than 200 stores in Egypt – 95 brand stores and 113 in-store outlets – with a nationwide distribution network of 22,000 outlets in 26 governors in Egypt. The company also recently opened three stores in the United Arab Emirates as part of its strategic geographic expansion.

for media inquiries; Please email us at: press@30n.org

Or contact by telephone:

Iman Salem

201026611329

Leave a Comment