RIYADH: Agthia Group, the UAE’s leading food and beverages company has completed the acquisition of a 75.1 percent stake in meat producer Ismailia Investments (Atyab), CNBC Arabia reported.
The Abu Dhabi-based leading food and beverage company achieved strong revenue growth at a compound annual rate of approximately 28 percent between 2016 and 2020, with healthy profit margins in 2020 of approximately 19 percent before interest, tax, depreciation and amortization.
Last year, the company achieved net revenues of AED424 million ($140.2 million), and profits of AED79 million ($26.1 million) before interest, tax, depreciation and amortization.
The company’s portfolio includes four brands, and the annual production capacity of the company is approximately 70,000 tons across a number of facilities and production lines, including a factory with an area of 60,000 sqm.
Agthia has 11 distribution centers across Egypt and employs more than 2,500 employees, and recently acquired the Al-Nabil Food Industries Co. in Jordan.
Attito Raslan, chairman and CEO of the company will retain a stake in the company.