Agthia, Abu Dhabi’s leading food and beverage company has announced a strategic acquisition of a 100 percent stake in Baklawa Made Better (BMB) Group, the GCC’s leading innovative healthy snacks and food company.
Launched in 2007, BMB manufactures and markets a wide variety of chocolate, Mediterranean sweets, baking ingredients and healthy snacks and food for its brands and partners.
BMB has a large portfolio of confectionery and healthy food brands including Asateer, Al Qamar, Freakin’ Healthy and Benoit and distributes over 2,000 stock keeping units (SKUs) in more than 23 countries worldwide, including the UAE, Saudi Arabia, and the USA.
The acquisition would reflect Agthia’s commitment to expanding its healthy food categories and enable the company to use the strength of BMB’s capabilities to accelerate its presence in the snacking and healthy food segment.
“This acquisition would enable Agthia to expand its presence and operations in the snacking vertical, further diversifying our extensive product portfolio and geographic reach. In addition to immediate access to new revenue streams and markets, we are excited by the prospect of exploring opportunities to fuel product innovation, such as the development of new healthy and specialist snacks in response to market trends.”
Earlier this year, Agthia established a footprint in the food industry with the acquisition of date company Al Foah. With the global healthy snacks market forecast to reach almost $98 billion by 2025 according to Euromonitor, the world’s leading strategic market research provider, Agthia is positioning itself in an expanding segment, with scalable regional and global brands.
Mr. Bilal Ballout and Mr. Mohamad Khachab, Co-Chief Executive Officers of BMB Group, said “As a homegrown UAE business, it gives us immense pride to partner with Agthia for the next phase of our growth, one in which we wish to serve our customers through increased product innovation, scale our business across the healthy foods segment, and continue to evolve into a truly global foods conglomerate.”
The acquisition of BMB is expected to drive tangible short- and long-term value for all stakeholders with significant cost and revenue synergy opportunities from the integration of the combined platform, enabling footprint expansion in the confectionery market, healthy snacking market, and cross-market distribution.