Abu Dhabi-based leading food and beverages company, Agthia has unveiled its long-term plan to become an F&B leader in the Middle East, North Africa and Pakistan (MENAP) region by 2025 through three strategic pillars of growth, efficiency and capability.
Agthia will proceed with mergers and acquisitions in the MENA region and will focus on boosting financial performance and expansion into new product categories, as it aims to become the top regional food and beverage company by 2025. The company has formulated its new strategies to expand the group’s market leadership and provide significant value for all stakeholders.
The Abu Dhabi-based company, which is part of one of the region’s largest holding companies, ADQ, is involved in the manufacturing, distribution and marketing of a wide range of F&B products, including popular regional brands like Al Ain (water), Al Foah (dates), Al Faysal Bakery & Sweets (bakery) and Grand Mills (flour and bakery) among others.
“The Agthia strategy over the next 5 years will focus on improving the efficiency of our existing businesses and pursuing new scalable opportunities in our region,” Khalifa Al Suwaidi, chairman of Agthia Group, said.
“Our strategy stems from an in-depth assessment of the business and a clear vision of where we want to go. We will follow a disciplined expansion plan focused on the acquisition, integration and scaling of new businesses and create a more effective way to serve and innovate, as we continue to engage with our partners and key customers to leverage their insights in building a stronger portfolio.”
Recently, the company has made a number of acquisitions as it strives to expand its footprint and add new verticals to its business. Its recent additions include Kuwait’s Al Faysal Bakery and Sweets, Jordan’s Nabil Foods and the world’s largest date processing and packaging company, Al Foah. The company is also acquiring a majority share in Egypt’s Ismailia Investments, which makes frozen chicken and beef products.
Agthia is looking to save about $54 million through synergy extraction as well as simplification of its existing and acquired businesses, as part of its growth strategy, according to the company.