Through this deal, Edita will expand its offering to fresh and ready-to-bake pastry products.
Edita Food Industries acquires Fancy Foods, to enter the frozen bakery segment in Egypt. Through this deal, Edita will expand its offering to fresh and ready-to-bake pastry products.
“The deal equips the Company with the necessary frozen technology infrastructure, marking a significant step in applying our R&D to complementary ventures, while capitalizing on our market-leading portfolio of proprietary brands,” Hani Berzi, Edita Chairman, said.
The company will be acquiring 100% of Fancy Foods’ assets, two full production lines, machinery, land, property, a distribution arm, technical know-how and recipes for a range of frozen bakery SKUs.
Edita plans to invest EGP 400 million to expand its business over the coming year, local media reported.
Zilla Capital was Edita’s financial advisor on the transaction and Matouk Bassiouny served as the legal counsel.
