Leisure & Hospitality Agthia’s stake in Egyptian snack group rises to 80% By Pramod Kumar February 20, 2025, 11:59 AM Pexels/irwan zahuri A food market in Egypt. Abu Auf sells healthy snacks, coffee and other foodstuffs in the country Agthia Group, a UAE-headquartered food and beverage company, has acquired an additional 10 percent stake in Abu Auf, an Egyptian healthy snacks retailer, increasing its ownership to 80 percent. The Auf family will continue to lead the business, the company said in a statement to the Abu Dhabi Securities Exchange. Financial terms of the deal were not disclosed. Agthia shares closed nearly 2 percent down at AED5.27 on Wednesday. The UAE company first acquired a 60 percent stake in 2022, and an additional 10 percent in February 2024. Over the past two years, Abu Auf has opened more than 100 new stores, with revenue growing by 33 percent year on year in 2024 in UAE dirhams despite the Egyptian pound’s devaluation. Auf Group processes, manufactures, retails and distributes products across Egypt, including premium coffee, nuts, healthy snacks and other confectionery items sold under the Abu Auf master brand. Agthia increases stake in Egyptian snack group New tax relief package expected in Egypt next month Egyptian contractor to build houses in Equatorial Guinea This month, Agthia reported a net profit of AED322 million ($88 million) in 2024, a 7 percent increase from AED300 million in 2022. Its Egyptian businesses delivered 8 percent year-on-year revenue growth in AED terms despite absorbing a negative impact of the pound devaluation. Exports from Egypt rose with year-on-year growth of 52 percent to AED105 million, as the company focuses on positioning Egypt as an export hub.
