Agthia Group, one of the region’s leading food and beverage companies, has announced that its board of directors has approved a strategic acquisition of 60 per cent stake in Auf Group, a specialised healthy snacks and coffee manufacturer in Egypt.

Established in 2010, Auf Group processes, manufactures, retails and distributes a broad portfolio of products across Egypt including coffee, nuts, healthy snacks and other confectionery products sold under the ‘Abu Auf’ masterbrand.

With this move, Agthia gets to spread its footprint in the attractive Egyptian snacking market and, together with last year’s acquisition of leading processed meat producer Atyab, facilitates the establishment of the group as a major player in the Egyptian consumer packaged goods industry.

The acquisition also reflects Agthia’s ongoing commitment to strengthening its portfolio and diversification into branded consumer goods.

It will build on last year’s acquisitions of the GCC’s leading innovative healthy snacks and food company, BMB Group, and the Al Foah dates business, strengthening Agthia’s market, category, and channel portfolio.

On the strategic move, Agthia Group Chairman Khalifa Sultan Al Suwaidi said: “As part of our strategy to stimulate growth and enhance our operations, we are focused on expanding Agthia’s footprint in the MENAP region. The acquisition of Auf Group is a compelling opportunity to bolster our delivery of this commitment, while further penetrating one of the region’s fastest-growing consumer markets.”

Group CEO Alan Smith pointed out that Auf Group was an important strategic target for Agthia to boost growth in its snacking and healthy food verticals.