Abu Dhabi – Mubasher: Agthia Group has completed the acquisition of a 100% stake in the water business of Saudi-based Delta Marketing Company, which produces Al Ain brand water, according to a statement.
In November 2016, Agthia had signed a share purchase agreement to acquire Delta’s water business.
Agthia will now own production of the UAE’s bottled water brand Al Ain Water in Saudi Arabia for the first time.
The Abu Dhabi-listed firm plans to expand its operations in Saudi Arabia to develop a thriving water business.
Agthia has now three water brands: Delta Water, Al-Ain, and Bambini.
Agthia’s water business represented 32% of its total revenues in 2016 at AED 652 million, a 20% rise year-on-year. Net revenues rose by 8% year-on-year to over AED 2 billion in 2016.
