Agthia increases its stake in Egyptian healthy snacks company to 80%
The Abu Dhabi-based food and beverage company told the Abu Dhabi Securities Exchange that it has purchased an additional 10 per cent stake in the Egyptian company.
As per the filing, 'this strategic move aligns with Agthia's ambition to drive growth in high-potential categories and build on successful partnerships'. The Auf family will continue to drive the business.
Strategic growth and milestones
Since acquiring an initial 60 per cent stake in 2022 and an additional 10 per cent in February 2024, Agthia and Abu Auf have achieved remarkable milestones together. Over the past two years, Abu Auf has opened more than 100 new stores and increased EBITDA by over 70 per cent in AED terms.
Alan Smith, Chief Executive Officer of Agthia Group, commented: 'Abu Auf embodies entrepreneurial spirit, operational excellence, and a relentless drive for growth. This additional investment reflects our belief in the company's potential and our commitment to bringing their innovative products to more consumers across Egypt and beyond.'
In 2024 alone, Abu Auf's revenue grew by 33 per cent year-on-year in AED despite EGP devaluation challenges, highlighting the resilience of the business.
Ahmed Auf, Chief Executive Officer of Abu Auf Group, added: 'Abu Auf is a proud Egyptian homegrown food and beverage brand that is not only about a diverse portfolio of premium coffee and quality food products, but also about agility and growth opportunities wherever they may be present.
'With Agthia's scale and expertise, Abu Auf has accelerated on the growth journey and remains firmly committed to continued innovation and expansion.'
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