EFG Hermes Concludes Advisory onAgthia Group’s100% Acquisition of Leading UAE Health Food Company BMB Group
EFG Hermes’ investment banking division, the leading investment banking franchise in Frontier Emerging Markets (FEM), announced today that it successfully concluded advisory on UAE-based Agthia Group’sstrategic acquisition of a 100% stake in UAE health snacks company BMB Group.
Mohamed Abou Samra, Managing Directoratthe Investment Banking division,EFG Hermes UAEcommented on the deal: “We are thrilled once again to be further growing our partnership with Agthia to helpsupport their ambitious regional and portfolio expansion strategy. This acquisition marks the third M&A deal we have completed for Agthia this year, following the successful acquisition of Egypt-based protein producer Atyab. The continued trust our clients place in us is proof positive of the team’s ability to identify and execute on key growth opportunities for them.”
Established in the UAE in 2004 and listed on the Abu Dhabi Securities Exchange (ADX), Agthia Group is a leading Abu Dhabi based food and beverage company. Through Senaat, Agthia Group PJSC 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 diversified economy. It specializes in manufacturing, distributing and marketing various products including water, snacking, grocery, processed protein, flour and feed. The Company’s assets are located in the UAE, Saudi Arabia, Kuwait, Oman, Egypt, Turkey and Jordan.Agthia Group has made a number of acquisitions in recent months to support its expansion plans, including Egypt’s Atyab and Kuwait’s Al Faysal Bakery and Sweets — both of which were executed by EFG Hermes. It also acquired Jordan’s Nabil Foods, and the world’s largest date processing and packaging company, Al Foah.
BMB Group, established in the UAE in 2007, manufactures and distributes a wide variety of chocolate, Mediterranean sweets, bakery ingredients, and healthy snacks for its own brands and partners. Its brand portfolio includes brand such as Asateer, Al Qamar, Freakin’ Healthy, Benoit and othersand it distributes its products in more than 23 countries, including the UAE, Saudi Arabia, and the US. The company is headquartered in Dubai.
EFG Hermes acted as the sole buy-side financial advisor on the transaction.
EFG Hermes has consistently demonstrated its unrivalled ability to advise on key transactions across its markets through an unparalleled distribution platform supported by world-class research, brokerage, and investment banking services. In 2021, the Investment Banking team closed a total of 32 transactions worth USD 7 billion,including 11 M&A transactions and 11 ECM transactions. Most recently, the division served as joint bookrunner on the AED 4.0 billion listing of ADNOC Drilling on the ADX; joint bookrunner on the AED 2.7 billion listing of Yahsat on the ADX; bookrunner and underwriter on Alkhorayef Water & Power Technologies’ USD 144 million IPO on Tadawul; and advisor on the sale of 100% of Bank Audi S.A.E to First Abu Dhabi Bank, to name a few.
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About EFG Hermes
With a current footprint spanning thirteen countries across four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) started in Egypt and has grown over 37 years of success to become a universal bank in Egypt with a leading investment banking platform leadingin frontieremerging markets (FEM). Drawing on our proven track-record and a diverse team of talented employees, we provide a wide spectrum of financial services that include advisory, asset management, securities brokerage, research and private equity to the entire MENA region.
In 2015, EFG Hermes launched its Non-Bank Financial Institutions (NBFI) Platform, which overlooks activities in the non-banking finance field covering microfinance, leasing, factoring, Buy-Now Pay-Later (BNPL), mortgage and insurance. This falls in line with the Firm’s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which has seen the Firm establish a physical presence in Pakistan, Bangladesh, Vietnam, Kenya, Nigeria, the United Kingdom and the United States. In 2021, the firm acquired a controlling stake in aiBANK allowing the Firm to transform into a universal bank in Egypt.
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