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 a leading innovative healthy snack and food company with a large portfolio of confectionery and healthy 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 the snacking and healthy food category.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, 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”.