UAE food giant Agthia to acquire 60% of Egypt’s Auf Group to widen footprint

RIYADH: Agthia Group, an Abu Dhabi-based food and beverage company, has received its board’s approval to acquire 60 percent of Egyptian coffee maker Auf Group as it expands its footprint in the north African country. 

Auf Group’s founders will retain a combined stake of 30 percent in the business and continue to lead the company with the full backing of Agthia’s regional footprint and operational support, according to a statement.