Arab News: Abu Dhabi-based food group Agthia is seeking to add high value acquisitions while also targeting savings of 200 million dirhams ($54.4 million) by 2025, the company said on Monday.
Agthia, which owns the popular Al Ain water brand, revealed its updated growth plan in a stock exchange filing.
“The Agthia strategy over the next five years will focus on improving the efficiency of our existing businesses, and pursuing new scalable opportunities in our region,” Khalifa Sultan Al-Suwaidi, Agthia Group chairman, said.
Agthia has already acquired three companies in recent months.
It comes as regional food producers benefit from rising demand and improved margins as more people stocked up on groceries during the lockdowns of the last year.
“We will follow a disciplined expansion plan focused on the acquisition, integration and scaling of new businesses and create a more effective way to serve and innovate,” Agthia CEO Alan Smith said.
The company, listed on the Abu Dhabi bourse, intends to strengthen its core business – water, flour and feed categories – as part of the strategy.
https://www.arabnews.com/node/1841561/business-economy
