The United Arab Emirates celebrated its annual Innovation Month in February, hosting a variety of events showcasing the best examples of innovation from the country's public and private sectors, as well as by the general public.
UAE's Agthia targets growth through food deals in Saudi Arabia and Egypt arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
Agthia to target more acquisitions amid pandemic turmoil says official arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
Dubai: The Abu Dhabi headquartered F&B giant, Agthia, recorded net profits of Dh34.5 million for 2020, derived from Dh2.06 billion in revenues. For 2019, the company had a net profit of Dh137 million on Dh2.04 billion in revenues. The numbers were driven by its consumer business, which made up 55 per cent of turnover. The food division also recorded gains, especially in the UAE and Egypt. It was in 2020 that Agthia - which owns the ‘Al Ain’ and ‘Al Bayan’ water brands - went through a series of consolidation and acquisition moves, as part of a strategy adopted by its parent entity ADQ.
SHARE Abu Dhabi-based food and beverage company Agthia completed its merger with Al Foah, the world’s largest date processing and packaging company. The merger comes after the industrial conglomerate General Holding Corporation (Senaat), owned by state holding company ADQ, submitted a non-binding offer to the board of Agthia Group to swap its shares in Al Foah in October last year. Agthia and Al Foah Company are both owned by ADQ through Senaat. With the integration of Al Foah into Agthia as a strategic business unit, Agthia has instantly become the domestic market leader in four essential food and beverage categories: water, dates, flour, and animal feed, in addition to having a diversified international exposure within the date category, the company said in a statement on Wednesday.
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