Arab Finance: Edita Food Industries has entered the Iraqi market by acquiring a 49% stake in Baghdad-based snack producer Tuama Jebur Abbas (TJA) through a capital increase worth $8 million, as per a press release.

The acquisition marks Edita’s first step into Iraq and is aimed at leveraging TJA’s established local presence.

TJA, a family-owned business specializing in high-quality packaged snacks, operates a factory in Iraq that will support Edita’s expansion. The facility includes three production lines, comprising two for cakes and one for biscuits.

Edita and TJA will also implement a technical know-how and manufacturing assistance agreement to enhance production capacity, efficiency, and control.

The deal establishes Edita Iraq, granting Edita management control of the venture.

Additionally, a trademark agreement enables Edita to introduce its brand portfolio in the Iraqi market, expanding its product range and strengthening its regional presence. 

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