Latest news with #AhmedAuf
Egypt Today
23-02-2025
- Business
- Egypt Today
UAE's Agthia Group purchases additional stake in Abu Auf
Cairo – February 23, 2025: UAE's Agthia Group has raised its stake in Abu Auf, the prominent Egyptian brand known for its healthy snacks and coffee, to 80%. This comes after the company acquired an additional 10% interest, reinforcing its strategic partnership with the brand and its focus on growth in high-potential markets. The Auf family will continue to lead the company's operations, maintaining a strong focus on innovation, operational excellence, and adaptability as key drivers of its success. Agthia initially acquired a 60 percent stake in Abu Auf in 2022 and further enhanced its investment with a 10 percent increase in February 2024. Together, the two companies have achieved significant accomplishments, including the opening of over 100 new stores in the past two years and a 70 percent growth in EBITDA (measured in AED). In 2024, despite the challenges posed by the devaluation of the Egyptian pound, Abu Auf saw a 33 percent growth in revenue year-over-year in AED, reflecting the resilience and value of this strategic alliance. Ahmed Auf, CEO of Abu Auf Group, highlighted the importance of Agthia's support in accelerating growth, saying, 'Abu Auf is a proud Egyptian brand that not only offers a diverse range of premium coffee and quality food products but also thrives on agility and seizing new growth opportunities. With Agthia's expertise and scale, we are accelerating our expansion while remaining focused on innovation and exploring new horizons.' Agthia's CEO, Alan Smith, emphasized the importance of the partnership, stating, 'Abu Auf represents a combination of entrepreneurial drive, operational excellence, and a strong growth-oriented mindset. This latest investment is a testament to our confidence in their future and our shared vision of bringing their innovative products to even more consumers across Egypt and beyond.'
Al-Ahram Weekly
20-02-2025
- Business
- Al-Ahram Weekly
UAE Agthia Group raises stakes in Egyptian Abu Auf Group to 80% - Economy
Agthia Group PJSC, a prominent player in the regional food and beverage industry in Abu Dhabi, has announced Thursday the acquisition of an additional 10 percent stake in Abu Auf Group, the Egyptian healthy snacks and coffee brand. This consolidation raises Agthia's ownership in Abu Auf from a 60 percent stake in 2022 to 80 percent. This move aligns with Agthia's strategy to enhance its portfolio in high-growth categories, positioning the company for future value creation. The Emirati company plans to leverage operational synergies by integrating Abu Auf's innovative and entrepreneurial approach on an ongoing basis. Abu Auf has opened over 100 new stores and experienced a remarkable 70 percent increase in EBITDA (short for earnings before interest, taxes, depreciation and amortization) in AED terms. In 2024, the company reported 33 percent year-on-year revenue growth in AED, despite challenges posed by the Egyptian pound's devaluation. This showcases the partnership's strategic advantages. '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,' said Alan Smith, CEO of Agthia Group. 'With Agthia's scale and expertise, Abu Auf has accelerated on the growth journey and remains firmly committed to continued innovation and expansion,' said Ahmed Auf, CEO of Abu Auf Group. Short link:
