Edita considers acquiring Bisco Misr

Updated 4/1/2024 8:00:00 AM
Edita considers acquiring Bisco Misr

Arab Finance: Edita Food Industries (EFID) is interested in acquiring the provider of baked goods and confectioneries Bisco Misr, Al Mal News reported, citing sources familiar with the matter.

Bisco Misr is currently owned by the US-based snack and cereal manufacturing firm Kellogg.

It is worth noting that Edita recorded a 59.1% year-on-year (YoY) surge in consolidated profits attributable to the parent company in 2023 to EGP 1.632 billion, versus EGP 1.026 billion.

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