Latest news with #Auf
CairoScene
24-02-2025
- Business
- CairoScene
UAE's Agthia Group Increases Stake in Egypt's Abu Auf to 80%
This move follows Agthia's initial 60% acquisition in 2022 and a 10% increase in 2024. Feb 24, 2025 Agthia Group, a UAE-based food and beverage company, has increased its stake in Egyptian healthy snacks and coffee brand Abu Auf to 80%. This move follows Agthia's initial 60% acquisition in 2022, and a 10% increase in 2024. Despite economic challenges and currency devaluation in Egypt, Abu Auf has demonstrated resilience, reporting a 33% year-on-year revenue increase in 2024 (in AED) and a 70% rise in earnings before interest, taxes, depreciation and amortisation (EBITDA). The company has also expanded its footprint with over 100 new store openings in the past two years. While Agthia strengthens its ownership, the Auf family will continue leading daily operations, ensuring a focus on innovation, operational efficiency, and premium product offerings.
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.'
Zawya
20-02-2025
- Business
- Zawya
Agthia Group consolidates additional 10% stake in Egyptian healthy snacks and Coffee Company Abu Auf Group
The consolidation strengthens Agthia's portfolio in high-growth categories, driving future value creation Agthia will continue to enhance operational synergies through ongoing integration with Abu Auf Group's innovative and entrepreneurial approach Abu Dhabi, UAE – Agthia Group PJSC ('Agthia' or 'the Group'), a leading regional food and beverage company, today announced the consolidation of an additional 10% stake in Abu Auf, a leading Egyptian healthy snacks and coffee brand, increasing its ownership to 80%. 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, ensuring continued agility, innovation, and operational excellence. Since acquiring an initial 60% stake in 2022 and an additional 10% 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 (net) and increased EBITDA by over 70% in AED terms. In 2024 alone, Abu Auf's revenue grew by 33% year-on-year in AED despite EGP devaluation challenges, highlighting the resilience of the business and the strategic value of this partnership. Alan Smith, Chief Executive Officer of Agthia Group, said: '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.' 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.' About Agthia Agthia Group PJSC is a leading Abu Dhabi-based food and beverage company. Established in 2004, the Company is listed on the Abu Dhabi Securities Exchange (ADX) and has the symbol 'AGTHIA'. Agthia Group PJSC is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy. The Group's assets are located in the UAE, Saudi Arabia, Kuwait, Oman, Egypt, Turkey, and Jordan. Agthia offers a world-class portfolio of integrated businesses providing high-quality and trusted food and beverage products for consumers across the UAE, GCC, Turkey, the wider Middle East, South America and Asia. More than 12,000 employees are engaged in the manufacturing, distribution, and marketing of various products in categories such as Water & Food (Al Ain Water, Al Bayan, Alpin Natural Spring Water, VOSS, Al Ain Food & Trading Items); Snacking (Al Foah, Al Faysal Bakery & Sweets, BMB, Abu Auf); Protein and Frozen (Nabil Foods, Atyab, Al Ain Frozen Vegetables); and Agri-Business (Grand Mills, Agrivita).
Arabian Business
20-02-2025
- Business
- Arabian Business
Agthia increases its stake in Egyptian healthy snacks company to 80%
Agthia Group has increased its ownership in Abu Auf, a leading Egyptian healthy snacks and coffee brand, to 80 per cent. 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.'
