EFG Hermes concludes advisory on Agthia’s acquisition of Auf Group

The transaction follows successful advisory transactions in the GCC, Egypt
EFG Hermes concludes advisory on Agthia’s acquisition of Auf Group
Maged El Ayouti, Managing Director and Deputy Head of EFG Hermes

EFG Hermes, the investment bank franchise in Frontier Emerging Markets (FEM), announced today that its investment banking division successfully concluded advising Auf Group’s founders and Tanmiya Capital Ventures (TCV) on the entry into a strategic transaction concerning Auf Group, a leading specialized Egyptian healthy snacks and coffee manufacturer and retailer, with UAE-based Agthia, one of the leading food and beverage companies in the region. 

The transaction marks the beginning of a new chapter in Auf Group’s growth journey to further accelerate its core business growth, expand its reach, and help the Company to realize its potential and growing footprint in Egypt, UAE, and beyond. 

Commenting on this, Maged El Ayouti, Managing Director and Deputy Head of EFG Hermes’ Investment Banking division said that the transaction is a “testament to the strong appetite from prominent international institutional investors in agile, efficiently run, and innovative companies in Egypt which are able to demonstrate strong growth and who can scale both locally and regionally.”

The transaction, upon completion, will see Agthia owning 60 percent of Auf Group, while 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. Tanmiya Capital Ventures (TCV) remains a committed shareholder with a 10% stake in Auf Group. The acquisition is subject to satisfying customary closing conditions, including obtaining relevant regulatory approvals.

This year, the Firm concluded a number of advisory transactions in the GCC and Egypt, including a $6.1 billion IPO of DEWA in Dubai, the region’s largest listing since 2019, a $2 billion IPO of Borouge in Abu Dhabi, a $323 million private placement of Ali Alghanim and Sons in Kuwait, and 1.3 billion Egyptian Pound IPO of Macro Group Pharmaceuticals on the Egyptian stock exchange. This transaction also follows a series of recent F&B assignments in the region including advising Agthia on the acquisition of Egyptian meat processing company Atyab, the acquisition of Kuwait’s Al Faysal Bakery and Sweets, and the acquisition of UAE’s health snacks company, BMB Group in 2021.

EFG Hermes Holding was recognized by the Financial Times and Statista as one of the fastest-growing companies in Africa in 2022.