Abu Dhabi’s Agthia will pursue mergers and acquisitions in the Middle East, North Africa and Pakistan and focus on improving financial performance and expanding into new product categories to become the leading regional food and beverage company by 2025.
The company is transforming its business operations as part of its new five-year growth strategy, which is based on three strategic pillars: growth, efficiency and viability, Agthia said in a statement on Monday. The strategy aims to expand the market leadership of the group and to offer all stakeholders significant added value
The Abu Dhabi-based company, which is part of one of the region’s largest holding companies, ADQ, is involved in the manufacture, distribution and marketing of a wide range of F&B products, including popular regional brands such as Al Ain Water and Al Foah dates.
“The Agthia strategy over the next 5 years will focus on improving the efficiency of our existing businesses and pursuing new scalable opportunities in our region,” said Khalifa Al Suwaidi, Chairman of the Agthia Group.
The company has made a number of acquisitions over the past few months to expand its footprint and add new industries to its business. Recent acquisitions include Kuwait’s Al Faysal Bakery and Sweets, Jordan’s Nabil Foods, and the world’s largest date processing and packaging company, Al Foah.
The company is also buying a controlling stake in Ismailia Investments in Egypt, which makes frozen chicken and beef products, the company said earlier this month.
As part of its growth strategy, Agthia aims to save Dh200 million (US $ 54 million) as part of its growth strategy by “generating synergies and simplifying its existing and acquired businesses”.
“We will follow a disciplined expansion plan focused on acquiring, integrating and scaling new businesses, and creating a more effective opportunity for service and innovation as we continue to work with our partners and key customers to share their insights into building a stronger portfolio benefit, “said Alan Smith, executive director of Agthia.
The company, which is listed in Abu Dhabi, recorded a sales growth of 1.1 percent in 2020 to 2.06 billion Dh.
Published: April 12, 2021, 11:28 a.m.