Zee Stores, the trading and distribution firm which currently operates as a retail subsidiary under IHC Abu Dhabi, has been rebranded to Ghitha and had expanded its strategy to become a prominent player in the food industry.
With this rebranding, the holding company is planning to add several related businesses to its existing portfolio, through future acquisitions and subsidiaries’ formation.
The future acquisitions are expected to boost Ghitha’s core capabilities in wholesale importing and trading fresh and canned foods, packaging and providing food services to industrial sites.
The new strategic direction will enable Ghitha Holding to become one of the largest and most important players in the regional food trading sector. Zee Stores’ ticker symbol will change to GHITHA from ZS.
“With the UAE’s National Food Security Strategy aiming to make the Emirates the world’s most food-secure nation by 2051, expanding operations in food and agriculture presents an ideal opportunity to deliver shareholder value through commercial success while supporting the national development agenda. This transformation of Zee Stores into Ghitha Holding represents the next stage in the company’s journey, and through our growing operations we will continue to play an even greater role in this sector.”
Ghitha Holding is a subsidiary of International Holding Company (IHC), the Abu Dhabi-headquartered multi-sector conglomerate which has implemented an ambitious strategy of consolidating and listing subsidiaries to transform them into powerful multi-sector operators.
IHC holds an extensive portfolio in its agriculture and food & beverage verticals and has developed deep expertise in food farming, trading and processing, empowering it to make significant contributions to the UAE’s food security strategy.