Edita acquires frozen bakery producer Fancy Foods in EGP 380M deal
Updated 5/30/2023 10:09:00 AM
Arab Finance: Edita Food Industries (EFID) has acquired 100% of the frozen bakery producer Fancy Foods with an enterprise value of EGP 380 million, according to an emailed press release on May 30th.
The acquisition marks a great step for Edita to tap into the frozen bakery segment and generate more revenue streams.
Zilla Capital was the financial advisor to Edita on the transaction, while the MENA-based law firm Matouk Bassiouny acted as legal counsel.
“This opportunity creates unbound synergies that will help us deliver significant value to customers and shareholders alike,” Edita’s Chairman Hani Berzi commented.
“Edita’s extensive distribution network and trusted brands will play a key role in boosting penetration and increasing market share as the Company expands into a new segment and offers consumers a unique value proposition,” Berzi added.
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