Agthia completes acquisition of majority stake in Egypt’s Auf Group
Agthia Group has finalised its acquisition of a 60% stake in Egyptian coffee and food retailer Auf Group.
The Abu Dhabi-based food and beverage company said the agreement will enhance its presence in Egypt, a key growth market for the brand, and strengthen its position as a leading regional consumer packaged goods (CPG) company.
The reported E£2.92bn ($118m) deal was first announced in July 2022.
“This is an important acquisition for Agthia that further expands our footprint in the snacking and healthy food verticals. We look forward to integrating Auf Group as part of Agthia while monetising synergies and growth opportunities. We are also excited to expand our presence in Egypt and look forward to working closely with the Auf Group team to bolster their strengths and capabilities,” said Alan Smith, CEO, Agthia Group.