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Agthia enters Saudi protein market with $25m facility

Earlier this year Agthia raised its stake in Egyptian snack group Auf Agthia Group/X
Earlier this year Agthia raised its stake in Egyptian snack group Auf

The UAE’s food and beverages group Agthia is expanding its presence in Saudi Arabia, the largest economy in the GCC.

The Abu Dhabi-listed company, which is majority owned by the Abu Dhabi government through the state investor ADQ, has opened a new AED90 million ($24.5 million) protein manufacturing facility in Jeddah to support growing demands for its protein brands in the kingdom.

The Saudi processed meat market is projected to reach $7 billion by 2030, reflecting a compound annual growth rate of 5.5 percent, Agitha Group said in a statement.

“By bolstering our presence in the kingdom’s rapidly expanding processed meat market, we are not only reinforcing our market position but also contributing significantly to the diversification and growth of our regional product portfolio,” said CEO Alan Smith.

The facility spans more than 9,000 sq m and will have an annual production capacity of over 9,000 tonnes.

In March the company raised its stake in the Egyptian snacks company Auf Group to 70 percent.

Agthia reported a group net profit of AED300 million in 2023, up 10 percent year on year.

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