Abu Dhabi – Mubasher: Agthia Group has successfully completed the acquisition of 100% share capital of Al Faysal Bakery and Sweets, one of Kuwait’s leading industrial bakeries.
The acquisition bolsters Agthia Group’s regional footprint and expands its portfolio within consumer products, according to a press release.
Moreover, it quadruples the size of the group’s business in Kuwait, which comprises the joint venture (JV) Al Rammah National for General Trading and Contracting Company that produces Al Ain Water.
Al Faysal Bakery and Sweets is a household name in Kuwait that was founded in 1991 with a diverse portfolio of premium products. In the last twelve-month period ended on 30 September 2020, Al Faysal Bakery generated revenues of AED 90 million, EBITDA of AED 21 million, and net income of AED 12 million.
