CHICAGO – Kellanova, the majority shareholder in Egyptian foods company Bisco-Misr, is selling its shares in the company to Hayel Saeed Anam Group & Co. (HAS Group). Bisco-Misr, established in 1957, makes biscuits and other snacks under brands such as Bisco Tea, Nice, Maamoud, Marie, Bisco Wafers and Seasonal Kahk. The company has manufacturing plants in Cairo and Alexandria in Egypt.

The HSA Group, a business conglomerate, employs about 35,000 people in over 85 companies across 80 markets in South Asia, Europe, the Middle East and Africa.

“This deal is a strategic step demonstrating the positive climate and potential for investments in the Egyptian market,” said Robert Chanmugam, managing director for the Middle East, North Africa, Turkey and Sub-Saharan Africa at Chicago-based Kellanova. “Hayel Saeed Anam Group (HSA Group) is committed to innovation and excellence and (has) extensive expertise in biscuit manufacturing, which makes them an ideal partner to drive the future growth of Bisco-Misr.”

He added, “Egypt is an important and strategic market for Kellanova with long-term growth opportunities. Since the time we began operations in 2015, we have remained committed to the country and will continue to invest to grow our business, develop local talent and bring innovations to the marketplace across our diverse portfolio of cereals, snacks and noodles products, offering diverse choices to meet the demand of Egyptian consumers.”

The transaction is expected to close in the first quarter of 2025, subject to the satisfaction of customary conditions, relevant regulatory approvals and the completion of a mandatory tender offer process for minority shares.