EFG Hermes closes another successful M&A deal in Egypt

The transaction follows several M&A deals the Firm advised on in the region this year, reinforcing its position as the leading M&A house in the region

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A Staff Reporter

Published: Wed 30 Nov 2022, 8:04 PM

EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), on Wednesday announced that its Investment Banking division successfully closed on the sale of a 60 per cent stake in Auf Group to leading Emirati food company Agthia.

EFG Hermes acted as sole sell-side financial advisor to Auf Group on the transaction.

The deal allows Auf Group to benefit from Agthia’s regional platform in the GCC with respect to its geographic expansion plan, while at the same time expanding its capabilities in the high growing Egyptian food and beverage market. Following the transaction, the company’s three founders will retain a combined 30 per cent stake and Tanmiya Capital Ventures (TCV) a 10 per cent stake.

“We are incredibly proud to have been part of this notable transaction for Auf Group — a renowned fast-growing Egyptian brand. Over the cycle, investors’ appetite to pursue high-growth investment opportunities that are value accretive continues to remain intact," Maged El Ayouti, managing director and deputy head of EFG Hermes’ Investment Banking division, said.

We are pleased to have contributed to this homegrown brand’s exceptional growth story and taking it to a new chapter as we work to continue attracting global capital to compelling local opportunities,” he said.

The local food and beverages industry boasts strong fundamentals with a substantial consumer base and considerable growth, making homegrown super brands such as Auf Group attractive for global investors looking for sustainable high returns.


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