ABU DHABI, UAE — Agthia Group PJSC, a food and beverage company serving the wider Middle East, completed its acquisition of a 60% stake in Auf Group, a specialized healthy snacks and coffee manufacturer and retailer in Egypt. The acquisition accelerates Agthia Group’s international growth. 

“The acquisition of Auf Group aligns with our 2025 growth strategy to acquire, integrate and grow attractive businesses in value-add categories,” said Khalifa Sultan Al Suwaidi, chairman of Agthia Group. “Egypt remains a strategic target for Agthia as one of the MENA region’s fastest-growing consumer markets. We continue to identify opportunities to grow our presence there while strengthening our food and beverage leadership in the Middle East and beyond.” 

Euromonitor International forecasted the Egyptian snacking market will grow from around $2.3 billion to around $3.05 billion by the end of 2024. Auf Group was established in 2010 and manufacturers, retails and distributes a wide range of products across Egypt including coffee, nuts, healthy snacks and other confectionery products under its Abu Auf brand. By acquiring Auf Group, Agthia Group builds on previous acquisitions of other regional snack producers including BMB Group, Dubai, UAE, and Al Faysal Bakery and Sweets in Kuwait.

“This is an important acquisition for Agthia that further expands our footprint in the snacking and healthy food verticals,” said Alan Smith, chief executive officer of Agthia Group. “We look forward to integrating Auf Group as part of Agthia while monetizing synergies and growth opportunities. We are also excited to expand our presence in Egypt and look forward to working closely with the Auf Group team to bolster their strengths and capabilities.”

Agthia acquired 60% of Auf Group with Auf Group’s founders retaining a 30% stake and continuing to actively lead the company with the support of Agthia’s regional footprint and operational expertise. Tanmiya Capital Ventures, an Egyptian private equity firm that invested in Auf Group in 2019, remains a shareholder of the remaining 10%. 

“This transaction represents a significant milestone in Auf Group’s history, and we look forward to working alongside the Agthia team to build on our success to date,” said Ahmed Auf, CEO of Auf Group. “Our focus remains on maintaining our unique position in the Egyptian snacking market while expanding our reach and footprint.”