Agthia Group PJSC, a food and beverage company based in Abu Dhabi, UAE, has announced it has acquired 100% of Al Faysal Bakery & Sweets Co. W.L.L. in Kuwait, as reported by Trade Arabia Business News Information.
Al Faysal Bakery and Sweets was established in 1991 and manufactures croissants, mini pizzas, cupcakes, and other bakery products. It has
The acquisition expands Agthia’s product portfolio as well as position in the region’s FMCG sector. In Kuwait, the company’s business includes joint venture Al Rammah National for General Trading and Contracting Company WLL that produces Al Ain Water. Having Al Faysal on board quadruples its business in the country.
Earlier in 2020, the company appointed of Alan Smith as its Chief Executive Officer. He holds strong cross functional experience having led strategic initiatives, business turnarounds, manufacturing build outs and multi-country operations as a business leader. His most recent position was with Mondelez International as Managing Director – Middle East & Pakistan where he spent more than 19 years of his professional career in various leadership roles overseeing sales, logistics and operations for the GCC and ensuring growth across the business.
Of this most recent Agthia venture, he says: Al Faysal Bakery and Sweets’ brand heritage, along with its diverse products and in-house distribution capabilities will allow us to capture an even greater opportunity in the Kuwaiti market. We are positive about the future prospects of Agthia Group in the consumer business market of the Mena region and the opportunities that we can capitalise on."
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