The Abu Dhabi-based Agthia will acquire 100 per cent of Dubai’s BMB Group in a transaction that is expected to be fully funded by cash.
Food and beverage company Agthia has fully acquired BMB Group, a Dubai-headquartered healthy snacks and food outfit.
Launched in 2007, BMB has a portfolio of confectionery and healthy food brands – including Asateer, Al Qamar, Freakin’ Healthy and Benoit – and distributes goods to over 23 countries worldwide, including the UAE, Saudi Arabia, and US.
In the last year, BMB, which has two manufacturing facilities in Dubai stretching over a combined total of 150,000sq ft, generated total revenues of around AED268M.
Alan Smith, CEO of Abu-Dhabi based Agthia Group, said: “This acquisition would enable Agthia to expand its presence and operations in the snacking vertical, further diversifying our extensive product portfolio and geographic reach. In addition to immediate access to new revenue streams and markets, we are excited by the prospect of exploring opportunities to fuel product innovation, such as the development of new healthy and specialist snacks in response to market trends.
