Agthia Group, one of the region’s leading food and beverage companies, has announced the completion of its strategic acquisition of a 100% stake in BMB Group, a leading regional healthy snacks and food company with a growing global footprint.

 

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 SKUs in more than 23 countries worldwide. 

 

The list includes UAE, Saudi Arabia, and the US, where BMB supplies some of the biggest retailers such as Walmart, Sam’s Club and Costco.

 

On the strategic acquisition, Agthia Group Chairman Khalifa Sultan Al Suwaidi 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."

 

CEO Alan Smith said: "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 utilize BMB’s distribution network to widen the reach of Agthia’s product portfolio in exciting markets such as the United States and Canada," noted Smith.

 

Agthia has acquired 100% 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.

 

"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," he added.

 

Dubbing it as an exciting time for BMB, Ballout and Khachab, said through its partnership with Agthia, the group will scale up business across the snacking and healthy food segment and develop and invest in foods of the future.

 

BMB began its journey in 2007 as a small warehouse in Sharjah. Today it manufactures and distributes a wide variety of chocolate, Mediterranean sweets, bakery ingredients and healthy snacks and food for its own brands and partners.

 

It has two manufacturing facilities stretching over a combined total of 150,000 sq ft area in its headquarters Dubai. With nearly 1,000 staff, BMB's portfolio includes popular confectionery and healthy food brands such as Asateer, Al Qamar, Freakin’ Healthy and Benoit.

 

"Our focus will continue to be on product innovation and expanding our markets as we continue to evolve into a truly global foods conglomerate," he added.-TradeArabia News Service