UAE Agthia Group announced the signing of a sale and purchase agreement to acquire the Kuwait-based Al-Faisal Bakery and Sweets Company.
According to Agthia's press release on the Abu Dhabi Securities Exchange website, today, Thursday, the UAE group has not disclosed the financial value of the deal.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said that this acquisition will support the strategic growth of the group due to the company's advanced position and high manufacturing capabilities. Distribution and market share.
For his part, Alan Smith, CEO of Agthia Group, affirmed that this acquisition will strengthen the existing presence of the group, while we expect significant revenue and cost synergies.
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It is worth noting that Agthia recorded a net profit of about 10 million dirhams during the first nine months of the current year. Excluding the impact of exceptional adjustments and allocations, the net profit is 92 million dirhams until Date it.
