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Agthia to take an 80% bite of Nabil FoodsMENA

Agthia to take an 80% bite of Nabil Foods

Agthia seems to be heading straight to the main course at the buffet aisle!

The UAE-based food and beverages group (AGTHIA) announced it intends to buy a majority stake (80%) in Nabil Foods, a Jordanian producer of frozen and chilled processed protein foods, distributed across an array of local and international markets. Of the steak, 60% will be acquired from ADQ (former Abu Dhabi Developmental Holding Company) and 20% from Ideal Holding Limited.

Nabil Foods is no small business either – they have been around for over 75 years and own more than 600 individual product lines. Its products are 100% Halal, and if the sale goes through, it will be Agthia’s first taste of the processed protein industry.

Despite the news, Agthia Group was trading around 2.4% lower on Tuesday. Is Agthia biting off more than they can chew?

why it matters
Agthia recently merged with Al Foah to become an F&B superpower, and so it seems its strategy is to become a leader in an increasingly competitive market. Buying Nabil Foods will give Agthia access to new revenue sources and allow for synergy opportunities across the region. Nabil Foods is, in itself, at the forefront of innovation in the regional food industry, keeping up with consumer trends by offering products such as plant-based proteins.