Business

Abu Dhabi's Agthia gets a taste of expansion with Nabil Foods stake

Abu Dhabi's Agthia gets a taste of expansion with Nabil Foods stake

Dubai: Abu Dhabi's Agthia Group is picking up a majority stake in Jordan's Nabil Foods, which will help the UAE company expand its geographical reach and solidify its status as one of the Top 10 names in the region's F&B space.

Founded in 1989, Nabil Foods is a big name in frozen and chilled processed protein products and which are distributed in more than 20 markets. It has a processing capacity of 43,000 tons per year and over 600 individual product lines. (The transaction is subject to obtaining certain regulatory and shareholders’ approvals.)

The acquisition would represent Agthia’s first entry into processed protein space. "Through Nabil Foods, Agthia would have immediate access to new revenue streams," Agthia said in a statement.

Top-line gains

“The acquisition, once completed, would represent another step towards meeting our ambitions - it would be an accretive acquisition for both the business and our shareholders, an expansion into a growing sector with high-quality product offerings and a mutual commitment to innovation aligned with evolving consumer trends," said Alan Smith, CEO.

"Agthia’s balance-sheet will be further strengthened and capitalized following completion of this acquisition, which will enable the company to continue to pursue its growth strategy.”

What';s Nabill Foods into?
Nabil Foods has nine production lines, producing up to 200,000 packs of finished products a day and supplying over 500 restaurants in the region. It has distribution facilities in 20 markets for clients in the food catering, hotel, restaurant and quick service restaurants, healthcare, university, school, and airline segments, alongside other retail outlets.