Egypt: Edita targets $25.9mln investments in 2023

Edita is planning to invest EGP 800 million this year, according to a filing to the Egyptian Exchange (EGX) on June 18th.

It is also planning to raise the capital of the recently acquired Fancy Foods by around EGP 400 million.

On May 30th, Edita acquired 100% of the frozen bakery producer Fancy Foods with an enterprise value of EGP 380 million.

Founded in 1996, Edita is an Egypt-based leader in the packaged snack food market. It manufactures, markets, and distributes a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.