Transaction will create a top-10 regional F&B group
Agthia Group, a leading food and beverages company owned by General Holding Corporation (Senaat) – part of ADQ, one of the region’s largest holding companies held its 15th General Assembly Meeting recently.
At the meeting, the company’s shareholders approved the proposed strategic combination with Al Foah Company, the world’s largest date processing and packaging company.
The combined group will have the scale, ambition, and strong capabilities across the value chain to support its future expansion plans, as one of the top ten consumer food and beverage groups in the Middle East.
“At Agthia, we embrace opportunities that allow us to strengthen the food and beverage sector in the UAE and wider region, and also emphasise our commitment to an outstanding customer experience,” commented Khalifa Sultan Al Suwaidi, Chairman, Agthia Group and Chief Investment Officer, ADQ,
“Upon completion of the transaction with Al Foah, the Group will immediately rise to become a regional champion in the date market with substantial global prospects, diversifying its product portfolio and expanding its international footprint,” remarked Alan Smith, CEO, Agthia Group.
The transaction is expected to be completed by the end of 2020, after which Agthia Group will be 59.17% owned by Senaat, part of ADQ.
