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Abu Dhabi-listed Agthia Group has completed its acquisition of BMB Group, a Dubai-based healthy snacks company, which manufactures brands including Asateer, Al Qamar, Freakin’ Healthy and Benoit.
BMB Group co-founders and CEOs Bilal Ballout and Mohamad Khachab said the business, which operates in 23 countries and supplying to retail giants including Walmart and Costco, is in the process of scaling up to become a global foods conglomerate.
Agthia said the acquisition strengthens the company’s footprint as a leading regional consumer packaged goods (CPG) company with cross-distribution opportunities in the Gulf, Egypt, the USA and Canada.
Earlier this year, the company acquired Kuwait’s Al Faysal bakery as well as date company Al Foah.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: “This transaction supports our 2025 growth strategy focused on the acquisition, integration and scaling of new businesses in value-add categories.
“The acquisition of BMB will create immediate value accretion for our shareholders, with significant growth prospects across Agthia’s product portfolio, geographical footprint, human capital and R&D capabilities.”
Agthia has acquired 100 percent of BMB from its founders and an investment vehicle controlled by The Panarae Partnership, a privately held holding company.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
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