UAE food group Agthia considers Egypt as export hub

United Arab Emirates food and beverages group Agthia is considering Egypt as an export hub after making acquisitions there as part of a regional growth strategy, Agthia Group CEO Alan Smith said on Wednesday.

Agthia, majority-owned by the Abu Dhabi government through state investor ADQ, aims to be one of the Middle East's leading players in the food industry by 2025.

"Our intent [in Egypt] is really now to bed those acquisitions, consolidate them and unlock the potential there to see how we can build Egypt as an export hub as well," Smith told Reuters.

"We currently export around 60 million dirhams ($16.3 million) from Egypt, but we'd like to accelerate that because we think there is a much bigger potential," he said.

Last year Agthia bought 60% of Egyptian snacks company Abu Auf as part of a five-year market diversification and growth strategy. In 2021 it acquired a majority stake in Egypt's Atyab meat company.

Smith said Agthia has around 1.5 billion dirhams in firepower for acquisitions this year.