Abu-Dhabi – Decypha: Agthia Group, a UAE based food and beverage company, has completed the acquisition of a 100% stake of Saudi-based Delta Marketing Company’s water business, WAM reported.
The deal was signed last November, secures for Agthia the facilities, network, and talent pool that will allow it to grow the brand “Al Ain” throughout Saudi Arabian, the company stated.
"Taking ownership of Al Ain Water’s production in Saudi Arabia, the GCC’s largest consumer market, represents a significant milestone in Agthia’s regional growth […] Over the coming years, Agthia plans to expand its operations in Saudi Arabia, leveraging its operational and industry expertise to develop a thriving water business as part of our commitment to deliver sustainable growth for our shareholders," said Agthia Chairman, Dhafer Ayed Al Ahbabi.
Agthia Group recorded a net profit of AED254.3 million in 2016, the group’s water business contributed to the growth of the net revenue by 8% to AED 2.01 billion.
By Decypha Editorial Team
