Germany-based food producer Dr. Oetker has acquired Tag El Melouk, the leading Egyptian manufacturer of baking ingredients, desserts, and other food products, for an undisclosed amount.
Tag El Melouk , which has two production facilities in Cairo, produces a range of products in the baking ingredients and dessert powders categories under the brands Cook’s and Tag El Melouk. Founded in 1954, the firm employs around 400 staff and has revenue in the tens of millions of euros.
Describing the Egyptian market as “highly interesting”, Dr. Oetker said: “The Egyptian culture has a long tradition of baking and has a strong affinity for sweets and desserts”.
In a statement, Suleiman-Sebastien Paraskevas, a representative of the selling shareholders for Tag El Melouk Industries, added: “This transaction marks a significant milestone in our Family’s legacy, and in Tag El Melouk’s long and successful journey as a leading player in the Egyptian FMCG sector. It also marks the start of a new chapter for the company as it transitions under the leadership of Dr. Oetker, a leading and respected global player in the sector”.
Source: Dr. Oetker / Just Food / Arqaam Capital