Edita Food Industries installs new wafer line and launches ‘Freska Pops’ to further capitalize on a fast-growing market
The new production line is housed at Edita’s new E08 facility and comes at an investment cost of c.EGP 14 million; new Freska Pops offering will further diversify Edita’s wafer portfolio as it seeks to grow its market share
Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFIFq.L on the London Stock Exchange), a leader in the Egyptian packaged snack food market, announced today the installation of a new wafer production line at its E08 facility at an investment cost of c.EGP 14 million. The new line will develop products under Edita’s ‘Freska’ range. With this new installation comes the launch of the line’s latest product, Freska Pops — rolled cocoa wafers available in cocoa cream and hazelnut cream filling retailing for EGP 3 per pack. The introduction of Freska Pops further diversifies Edita’s wafer offerings as it seeks to capture a larger share of this fast-growing market, which recorded EGP 2.8 billion in 2018.
Commenting on the new launch, Edita Chairman and Managing Director Hani Berzi said: “Edita is taking full advantage of the solid fundamentals of the fast-growing wafer segment, where we plan to funnel investment in adding new capacities and new products. This strategy is already bearing fruit, with revenues from the wafer segment during 1Q2019 alone hitting EGP 97.3 million and our market share totaling 10.3% as of February 2019. Our unwavering commitment to providing innovative offerings to our consumers and our ability to deliver on our growth strategies are what set us apart in the fast-growing and increasingly competitive snack food market.”