Agthia shareholders approve merger plan with dates giant Al Foah

Agthia shareholders approve merger plan with dates giant Al Foah

Shareholders of UAE-based food major Agthia Group have approved a proposed merger with Al Foah Company, the world's largest date processing and packaging company.

The backing was given at Agthia's 15th general assembly meeting, a statement said.

Agthia said the combined group will have the "scale, ambition, and strong capabilities across the value chain to support its future expansion plans as one of the top ten consumer food and beverage groups in the Middle East".

Agthia board to recommend to shareholders to proceed with a strategic transaction to combine with Al Foah Company

Khalifa Sultan Al Suwaidi, chairman, Agthia Group and chief investment officer of parent company ADQ, said: “The shareholders' approval of the combination with Al Foah supports Agthia's vision and our plans to expand the offering of premium quality products in our portfolio. We embrace opportunities that allow us to strengthen the food and beverage sector in the UAE and wider region, and also emphasise our commitment to an outstanding customer experience.”

Alan Smith, CEO of Agthia Group, added: “The strategic combinations with Al Foah and Al Faysal are two of our key achievements of the current financial year, reinforcing Agthia's vital role in the region's food and beverages sector. Upon completion of