Agthia, the leading Middle East food and drinks firm, has announced that it has acquired a 100% stake in BMB Group for an undisclosed sum.
Founded in 2007, BMB Group is described as an innovative healthy snack and food company with a large portfolio of confectionery and other food brands such as Asateer, Al Qamar, Freakin’ Healthy, and Benoit, distributing over 2,000 SKUs across 23 countries.
The acquisition of BMB Group will allow Agthia to expand and accelerate its presence in snack and health foods, the company said.
Commenting on the deal, Agthia Group chairman Khalifa Sultan Al Suwaidi said: “Earlier this year, we presented Agthia’s corporate strategy to the public, and outlined our commitment to investing into the fastest growing and profitable segments of the food and beverage space. The acquisition of BMB aligns with that mandate, and will accelerate the footprint of our snacking business, while adding strong brands and capabilities to our portfolio. We are also pleased with the immediate value accretion that the acquisition of BMB creates for Agthia’s shareholders”.