EFG Hermes’ investment banking division, the leading investment banking franchise in Frontier Emerging Markets (FEM), announced that it successfully concluded advisory on UAE-based Agthia Group’s strategic acquisition of a 100% stake in UAE health snacks company BMB Group.
Mohamed Abou Samra, Managing Director at the Investment Banking division, EFG Hermes UAE commented on the deal: “We are thrilled once again to be further growing our partnership with Agthia to help support their ambitious regional and portfolio expansion strategy. This acquisition marks the third M&A deal we have completed for Agthia this year, following the successful acquisition of Egypt-based protein producer Atyab. The continued trust our clients place in us is proof positive of the team’s ability to identify and execute on key growth opportunities for them.”
Established in the UAE in 2004 and listed on the Abu Dhabi Securities Exchange (ADX), Agthia Group is a leading Abu Dhabi based food and beverage company. Through Senaat, Agthia Group PJSC is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy. It specializes in manufacturing, distributing and marketing various products including water, snacking, grocery, processed protein, flour and feed. The Company’s assets are located in the UAE, Saudi Arabia, Kuwait, Oman, Egypt, Turkey and Jordan. Agthia Group has made a number of acquisitions in recent months to support its expansion plans, including Egypt’s Atyab and Kuwait’s Al Faysal Bakery and Sweets — both of which were executed by EFG Hermes. It also acquired Jordan's Nabil Foods, and the world's largest date processing and packaging company, Al Foah.
BMB Group, established in the UAE in 2007, manufactures and distributes a wide variety of chocolate, Mediterranean sweets, bakery ingredients, and healthy snacks for its own brands and partners. Its brand portfolio includes brand such as Asateer, Al Qamar, Freakin’ Healthy, Benoit and others and it distributes its products in more than 23 countries, including the UAE, Saudi Arabia, and the US. The company is headquartered in Dubai.
EFG Hermes acted as the sole buy-side financial advisor on the transaction.
EFG Hermes has consistently demonstrated its unrivalled ability to advise on key transactions across its markets through an unparalleled distribution platform supported by world-class research, brokerage, and investment banking services. In 2021, the Investment Banking team closed a total of 32 transactions worth USD 7 billion, including 11 M&A transactions and 11 ECM transactions. Most recently, the division served as joint bookrunner on the AED 4.0 billion listing of ADNOC Drilling on the ADX; joint bookrunner on the AED 2.7 billion listing of Yahsat on the ADX; bookrunner and underwriter on Alkhorayef Water & Power Technologies’ USD 144 million IPO on Tadawul; and advisor on the sale of 100% of Bank Audi S.A.E to First Abu Dhabi Bank, to name a few.
