Edita Signs an Agreement to Acquire 49% of Tuama Jebur Abbas and Establishes Edita Iraq
Giza, 19 January 2025
Edita Food Industries S.A.E. signed a partnership agreement with Tuama Jebur Abbas (TJA), based in Baghdad. This strategic partnership includes the acquisition of a 49% stake in TJA for a valuation of C. 8 million US dollars, through a capital increase.
Under the terms of the partnership, Edita Iraq will be established through a UAE-based holding company, granting Edita management control. The acquisition includes a factory equipped with three production lines: two for cakes and one for biscuits.
Additionally, planned investments amount to 27 million US dollars over the next three years. This aims to more than double production capacity and unlock new opportunities in the packaged snack food market in Iraq.
-Ends
Contacts
Ms. Menna Shams El Din
Chief Investment Officer & Corporate Affairs
T: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg
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