REG - Edita Food Ind SAE - Edita - Iraq Partnership

Edita Food Industries SAEAnnouncement

20/01/2025 07:00

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RNS Number : 8586T  Edita Food Industries S.A.E.  19 January 2025

 

 

 

Edita Signs an Agreement to Acquire 49% of Tuama Jebur Abbas and Establishes
Edita Iraq

 

Giza, 19 January 2025

 

Edita Food Industries S.A.E. signed a partnership agreement with Tuama Jebur
Abbas (TJA), based in Baghdad. This strategic partnership includes the
acquisition of a 49% stake in TJA for a valuation of C. 8 million US dollars,
through a capital increase.

Under the terms of the partnership, Edita Iraq will be established through a
UAE-based holding company, granting Edita management control. The acquisition
includes a factory equipped with three production lines: two for cakes and one
for biscuits.

Additionally, planned investments amount to 27 million US dollars over the
next three years. This aims to more than double production capacity and unlock
new opportunities in the packaged snack food market in Iraq.

 

-Ends

Contacts

Ms. Menna Shams El Din

Chief Investment Officer & Corporate Affairs

T: +202 3851 6464 | M: +20 100 1542428 |  menna.shamseldin@edita.com.eg
(mailto:%20menna.shamseldin@edita.com.eg)

 

 

 

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