EFG Hermes Concludes Advice on Agthia Group 100% Acquisition of BMB Group, One of the UAE’s Leading Health Food Companies
The transaction marks the third M&A transaction completed by EFG Hermes for Agthia Group this year alone, consolidating the company’s leading role in mergers and acquisitions in the MENA region.
Abu Dhabi, December 13, 2021
The investment banking division of EFG Hermes, the leading emerging frontier investment banking franchise (EMF), today announced that it has successfully completed the advisory on the strategic acquisition by Agthia Group, based in United Arab Emirates, a 100% stake in United Arab Emirates healthy snack company BMB Group.
Mohamed Abou Samra, Managing Director Investment Banking Division, EFG Hermes UAE commented on the agreement: âWe are delighted once again to further develop our partnership with Agthia to help support their ambitious regional and portfolio expansion strategy. . This acquisition marks the third M&A deal we have entered into for Agthia this year, following the successful acquisition of Egypt-based protein producer Atyab. The continued trust our clients place in us is positive proof of the team’s ability to identify and execute key growth opportunities for them.
Established in the United Arab Emirates in 2004 and listed on the Abu Dhabi Securities Exchange (ADX), Agthia Group is a leading food and beverage company based in Abu Dhabi. Through Senaat, Agthia Group PJSC is part of ADQ, one of the largest holding companies in the region with a large portfolio of large companies covering key sectors of Abu Dhabi’s diverse economy. It specializes in the manufacture, distribution and marketing of various products including water, snacks, groceries, processed proteins, flour and animal feed. The Company’s assets are located in the United Arab Emirates, Saudi Arabia, Kuwait, Oman, Egypt, Turkey and Jordan. Agthia Group has made a number of acquisitions in recent months to support its expansion plans, including Atyab in Egypt and Al Faysal Bakery and Sweets in Kuwait – both carried out by EFG Hermes. It also acquired the Jordanian company Nabil Foods and the world’s largest date processing and packaging company, Al Foah.
BMB Group, established in the United Arab Emirates in 2007, manufactures and distributes a wide variety of chocolates, Mediterranean candies, bakery ingredients and healthy snacks for its own brands and partners. Its brand portfolio includes brands such as Asateer, Al Qamar, Freakin ‘Healthy, Benoit and others and it distributes its products in more than 23 countries including the United Arab Emirates, Saudi Arabia and the United States. The company is headquartered in Dubai.
EFG Hermes acted as the sole financial advisor on the buy side in connection with the transaction.
EFG Hermes has consistently demonstrated its unmatched ability to advise on key transactions in its markets through an unrivaled distribution platform supported by world-class research, brokerage and investment banking services. In 2021, the Investment Banking team closed a total of 32 transactions worth $ 7 billion, including 11 M&A transactions and 11 ECM transactions. Most recently, the division served as associate bookrunner on ADNOC Drilling’s AED 4.0 billion list on ADX; associate bookrunner on Yahsat’s AED 2.7 billion ADX listing; bookrunner and underwriter of the $ 144 million Alkhorayef Water & Power Technologies IPO on Tadawul; and advising on the 100% sale of Bank Audi SAE to First Abu Dhabi Bank, to name a few.
About EFG HermÃ¨s
With a current presence spanning thirteen countries on four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) started in Egypt and has enjoyed over 37 years of success in becoming a universal bank in Egypt with a banking platform leading investment. in emerging frontier markets (EMF). Drawing on our proven track record and a diverse team of talented employees, we provide a wide range of financial services including advisory, asset management, securities brokerage, research and private equity. entire MENA region.
In 2015, EFG Hermes launched its Non-Bank Financial Institutions (NBFI) Platform, which monitors activities in the field of non-bank finance covering microfinance, leasing, factoring, Buy-Now Pay -Later (BNPL), mortgage and insurance. This fits in with the company’s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which have enabled the company to establish a physical presence in Pakistan, Bangladesh. , Vietnam, Kenya, Nigeria, United Kingdom and United States. In 2021, the company acquired a majority stake in aiBANK allowing the company to transform into a universal bank in Egypt.
For more information, please contact:
EFG Hermes public relations team
Mai El Gammal
Group Marketing & Communication Manager
Note on forward-looking statements
In this press release, EFG Hermes may make forward-looking statements, including, for example, statements regarding management expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but represent only the belief of EFG Hermes regarding future events, many of which, by their nature, are inherently uncertain and beyond the control of management and include, among others, the volatility of financial markets ; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, current and future laws, regulations and regulatory measures. Therefore, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.