EFG Hermes completes advisory on acquisition of Kuwait’s Al Faysal Bakery & Sweets by Agthia Group

EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), announced that its investment banking division successfully concluded advisory on Agthia Group’s acquisition of Kuwait’s Al Faysal Bakery & Sweets.

Agthia Group was established in the UAE in 2004 and listed on the Abu Dhabi Securities Exchange (ADX). Through Senaat, Agthia Group is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.

Agthia Group consists of a world-class portfolio of integrated businesses and brands. It specializes in manufacturing, distribution, and marketing of various products including bottled water and other beverages, dairy products, food, and animal feed across the UAE and Turkey as well as the GCC and wider Middle East. Agthia’s assets are located in the UAE, Saudi Arabia, Oman, Egypt, and Turkey.

Established in 1991, Al Faysal Bakery and Sweets brings to Kuwaiti market premium bakery products such as croissants, mini pizzas, fatayers, cakes, rusk and puffs. Its products are sold at over 4,000 points of sale including hypermarkets and supermarkets, cooperative societies, schools and convenience stores in Kiwait

Mohamed Fahmi, Co-Head of Investment Banking at EFG Hermes commented on the transaction, “I am proud of the team’s ability to conclude high profile, cross-border transactions despite challenges facing all markets due to the COVID-19 pandemic. The team’s commitment to providing world-class services to our clients regardless of the operating environment has enabled us to source and conclude high-profile transactions across multiple jurisdictions. With a healthy pipeline of deals in the GCC, we expect the region, and in turn the Firm’s, deal flow to grow throughout 2021.”

EFG Hermes acted as Agthia’s sole financial adviser on the transaction.