Agthia completes Al Foah transaction to create top 10 F&B company in region
Khalifa Sultan Al Suwaidi, chairman, Agthia Group and chief investment officer of ADQ.
Senaat which is part of ADQ now owns 59.17 per cent of the entire issued share capital of Agthia.
Food and beverages company Agthia Group on Wednesday announced the successful completion of its strategic combination with Al Foah, a date processing and packaging company based in Abu Dhabi.
With the integration of Al Foah into Agthia as a strategic business unit, Agthia has instantly become the domestic market leader in four essential food and beverage categories: water, dates, flour, and animal feed, in addition to having a diversified international exposure within the date category.
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Abu Dhabi-based food and beverage company Agthia completed its merger with Al Foah, the world’s largest date processing and packaging company.
The merger comes after the industrial conglomerate General Holding Corporation (Senaat), owned by state holding company ADQ, submitted a non-binding offer to the board of Agthia Group to swap its shares in Al Foah in October last year. Agthia and Al Foah Company are both owned by ADQ through Senaat. With the integration of Al Foah into Agthia as a strategic business unit, Agthia has instantly become the domestic market leader in four essential food and beverage categories: water, dates, flour, and animal feed, in addition to having a diversified international exposure within the date category, the company said in a statement on Wednesday.
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