Egyptian dairy maker Domty inks $10mn supply deal with Russian retailer Magnet

Egyptian dairy firm Arab Food Industries – Domty has signed a $10 million contract with Russia’s largest retailers, Magnet, the Egyptian firm announced in a bourse filling Monday.

Upon the contract, Domty will supply dairy products to Magnit, which is the market leader by the number of stores and their geographical coverage in Russia.

Earlier, Domty announced a successful tap on the Russian market in the second half of 2015, expecting to export products to Russia at $4 million initially.