UAE-based food and beverages company, Agthia Group (AGTHIA), is all about that acquisition life. Its latest purchase of a 75% stake in Cairo-based Ismailia Investments comes just a few weeks after its acquisition of snacks-maker BMB Group.
Ismailia Investments, also known as Atyab, is an Egyptian producer of frozen processed chicken and beef products. Its portfolio of four distinct brands and entire operations, which include a 60k sqm manufacturing facility, are set to become a key component of Agthia’s larger expansion strategy in the region. Atyab’s revenues have grown at a CAGR of 28% since 2016 and it held EBITDA margins of roughly 19% last year. With more than 2,500 employees and 11 distribution centers across Egypt, the company is positioned as a premium poultry and meat provider.
why it matters
While Agthia shares saw a considerable 6.0% drop when news of its BMB acquisition came out, the meat-lovers are clearly into its purchase of Atyab as the stock was up by 1.2% yesterday at market close.