Abu Dhabi – Decypha: UAE’s Agthia Group, a leading food and beverage group, announced the entering of a joint venture with Anderson Hay & Grain Co. Inc., a U.S hay exporter, according to company’s press release.
Once the legalities involved in the process is complete, the newly formed company will be importing Anderson’s premium forage products from the USA to distribute in the UAE and the GCC.
The partnership was announced at the AGRAME exhibition at International Convention Center in Dubai during Agthia’s launch of their first premium forage product under Agrivita Marabe brand.
“This partnership with Anderson Hay is another testament to our commitment to create value for our shareholders and to support our nation’s food security programs. Our combined strength will provide a solid supply and distribution alternative in the UAE and the GCC markets that would be difficult to achieve working independently,” said Dhafer Ayed Al Ahbabi, Agthia Chairman.
“At the roots of this company lies animal feed, when it was founded by late HH Sheikh Zayed bin Sultan Al Nahyan in 1978. Over the past four decades, we have been continually enhancing the products and services we are offering to our customers. This joint venture and the launch of “Agrivita Marabe” is another step in this direction, complementing our existing Agrivita animal feed portfolio and providing a full-service solution to our livestock customers in the UAE,” commented Tariq Al Wahedi, Acting Chief Executive Officer of Agthia.
“Anderson Hay & Grain is proud to be in the UAE and the Gulf in partnership with Agthia. Our joint venture will join two industry leaders, focused on quality products, strong relationships and customer service. We aspire to be the preferred forage provider to customers in the Middle East,” said Mark T. Anderson, the CEO and the President of Anderson Hay and Grain Co., Inc
The government of Abu Dhabi banned growing alfalfa and other feed grass to conserve the underground water reserves in 2006. Since then, the government has imported hay, with almost 2.5 million metric tons imported in 2016.
Established in 2004, the Abu Dhabi based food and beverage company net profit in 2016 was AED 254 million, marking a 10% increase compared to 2015. In addition, the company’s net revenues rose by 8 percent to over AED 2 billion in 2016. Agthia has assets in UAE, Oman, Egypt, and Turkey with more than 3,000 employees.
By Decypha Editorial Team
