Agthia Group has announced the completion of its acquisition of a 60% stake in Auf Group, a healthy snacks and coffee manufacturer and retailer in Egypt.
The acquisition enhances Agthia’s footprint in the Egyptian snacking market which is forecast to grow from US$2.3 billion in 2020 to around $3.05 billion by the end of 2024 according to Euromonitor. It strengthens the company’s position as a regional consumer packaged goods (CPG) company building on last year’s acquisitions of BMB Group, Al Foah, Al Faysal Bakery and Sweets, Nabil Foods and Aytab.
“The acquisition of Auf Group aligns with our 2025 growth strategy to acquire, integrate and grow attractive businesses in value-add categories. Egypt remains a strategic target for Agthia, as one of the MENA region’s fastest-growing consumer markets,” said Khalifa Sultan Al Suwaida, Chairman of Agthia Group. “We continue to identify opportunities to grow our presence there while strengthening our F&B leadership in the Middle East and beyond.”
Agthia has acquired 60% of Auf Group with Auf Group’s Founders retaining a 30% stake and continuing to lead the company with the support of Agthia’s regional footprint and operational expertise. Tanmiya Capital Ventures, an Egyptian private equity firm that invested in Auf Group in 2019 remains a shareholder of the remaining 10% stake.
“This transaction represents a significant milestone in Auf Group’s history, and we look forward to working alongside the Agthia team to build on our success to date. Our focus remains on maintaining our unique position in the Egyptian snacking market while expanding our reach and footprint,” said Ahmed Auf, Chief Executive Officer of Auf Group.
Established in 2010, Auf Group processes, manufactures, retails and distributes a broad portfolio of products across Egypt including coffee, nuts, healthy snacks and other confectionery products which are sold the Abu Auf master brand.
The company currently has plans to expand its footprint across the UAE, having recently opened four new stores in key retail locations including a flagship store in the newly opened Dubai Hills Mall.
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Editor, International Bakery
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