Agthia Group, one of the UAE’s largest food and beverage companies, on Monday announced the completion of its acquisition of BMB Group, a regional healthy snacks and food company.
The acquisition bolsters Agthia’s position in the fast-growing snacking and healthy food segment, building on its acquisition of date company Al Foah and Al Faysal bakery in January.
For nearly 15 years, BMB has been pioneering confectionery and healthy food products with over 2,000 units in more than 23 countries worldwide including the UAE, Saudi Arabia and the United States where BMB supplies some of the biggest retailers such as Walmart, Sam’s Club and Costco.
Khalifa Sultan Al Suwaidi, chairman of Agthia Group, said: “This transaction supports our 2025 growth strategy focused on the acquisition, integration and scaling of new businesses in value-add categories. The acquisition of BMB will create immediate value accretion for our shareholders, with significant growth prospects across Agthia’s product portfolio, geographical footprint, human capital and R&D capabilities.”
Alan Smith, CEO of Agthia Group, added: “This is an exciting and significant acquisition that will expand our footprint in the confectionery and healthy snacking verticals, delivering immediate growth through established brands distributed across key regional and global markets.
“Together we will take these brands to new markets, as well as utilise BMB’s distribution network to widen the reach of Agthia’s product portfolio in exciting markets such as the United States and Canada.
“In the longer term, this acquisition will see us at the forefront of new consumer trends. With our shared passion for innovation, BMB’s experience and our strong balance sheet, we will become market leaders in healthy snacking and venture into exciting verticals such as plant-based foods.”
Agthia has acquired 100 percent of BMB from its founders and co-CEOs Bilal Ballout and Mohamad Khachab, and an investment vehicle controlled by The Panarae Partnership, a privately held holding company.
Ballout and Khachab said: “This is an exciting time for BMB, through our partnership with Agthia, as we scale our business across the snacking and healthy food segment and develop and invest in foods of the future. Our focus will continue to be on product innovation and expanding our markets as we continue to evolve into a truly global foods conglomerate.”
The plant-based food industry is a $30 billion industry, according to a recent report by Bloomberg Intelligence, adding that it is expected to grow more than 450 percent over the next decade to exceed $162 billion.
Headquartered in Dubai, BMB started in 2007 as a small warehouse in Sharjah. Today it has two manufacturing facilities stretching over a combined total of 150,000 square feet with nearly 1,000 staff.
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