Agthia intends to acquire Atyab

Agthia Group, listed on the Abu Dhabi Securities Exchange, announced today, Wednesday, that its board of directors approved the strategic acquisition of the majority stake in the Ismailia Agricultural Investment Company (“Atyab”), one of the companies specialized in the field of producing frozen meat and poultry in Egypt.

The company’s statement to the market, of which Emirates Today obtained a copy, indicated that Agthia will, through this deal, acquire a majority stake of 75.02 percent of the Ismailia Agricultural Investment Company.

The Ismailia Company for Agricultural Investment portfolio includes four brands: "Atyab", "Maitland", "Chiquita" and "Furat";

According to a press release.

The company provides a wide range of products through which it serves various audiences in the Egyptian market.

The annual production capacity of the company is approximately 70 thousand tons through a number of facilities and production lines, including a factory with an area of ​​60 thousand square meters.

The company has achieved remarkable growth in its revenues at a compound annual rate of approximately 28 percent between 2016 and 2020, with strong profit margins in 2020 amounting to approximately 19 percent before interest, tax, depreciation and amortization.

In 2020, the company achieved net revenues of 424 million dirhams and a profit of 79 million dirhams before interest, tax, depreciation and amortization.

The company owns 11 distribution centers all over Egypt and employs more than 2,500 employees.

Agthia Group was established in 2004 and has been listed on the Abu Dhabi Stock Exchange since 2005. Agthia is one of the leading companies in four main areas: dates, water, flour, and animal feed.

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