Al Foah will operate as a strategic business unit within Agthia
Agthia Group, a leading food and beverages company, today announced the successful completion of its strategic combination with Al Foah, the world’s largest date processing and packaging company based in Abu Dhabi.
With the integration of Al Foah into Agthia as a strategic business unit, Agthia has instantly become the domestic market leader in four essential food and beverage categories: water, dates, flour, and animal feed, in addition to having a diversified international exposure within the date category
Senaat now owns 59.17% of the entire issued share capital of Agthia, up from the 51% it owned before the deal. Senaat is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s economy.
“We will continue to seek organic and inorganic growth opportunities to support our ambitions and to further strengthen the UAE’s food and beverage sector,” commented Khalifa Sultan Al Suwaidi, Chairman, Agthia Group and Chief Investment Officer, ADQ.
“With the successful close of this transaction, we have fast-tracked our ambitions to become amongst the top 10 F&B companies in the MENA region,” remarked Alan Smith, CEO, Agthia Group.
