Abu Dhabi – Mubasher: The board of Agthia Group has approved to fully acquire Dubai-headquartered BMB Group, an innovative healthy snacks and food company.
Founded in 2007, BMB owns a large portfolio of confectionery and healthy food brands, including Asateer, Al Qamar, Freakin’ Healthy, and Benoit, distributing over 2,000 SKUs in over 23 countries, according to a press release on Wednesday.
The transaction is Agthia’s second investment in the snacking and healthy food market, following its acquisition of Al Foah earlier this year.
Subject to customary closing conditions including relevant regulatory approvals, the deal is expected to be fully funded by cash and will be reflected in Agthia’s earnings.
The Chairman of Agthia, Khalifa Sultan Al Suwaidi, said: "The acquisition of BMB aligns with that mandate, and will accelerate the footprint of our snacking business, while adding strong brands and capabilities to our portfolio."
Meanwhile, the CEO of Agthia Group, Alan Smith, commented: "This acquisition would enable Agthia to expand its presence and operations in the snacking vertical, further diversifying our extensive product portfolio and geographic reach."
