Edita Food Industries inks agreement with Saudi Arabia’s Khalifa A.Algosaibi Cold Stores for the distribution of its Hoho’s, Twinkies and Tiger Tail (HTT) Brands
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Cairo, 5 October 2016
Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange and EFIDq.L on the London Stock Exchange), a leader in the Egyptian packaged snack food market with dominating market shares in its core cake and croissant segments, announced today the signing of an agreement with the Kingdom of Saudi Arabia’s (KSA) Khalifa A.Algosaibi Cold Stores (KACS) that will see the latter distribute Edita’s Hoho’s, Twinkies and Tiger Tail (HTT) brands throughout the KSA.
The agreement capitalizes on the previously announced deal with Hostess Brands LLC that expanded Edita’s ownership of its Hoho’s, Twinkies and Tiger Tail brands (“HTT”) to 12 new countries across the Middle East and North Africa while also acquiring the right to manufacture and market 11 other Hostess Brands on a regional basis.
KACS is a portfolio company of the Khalifa A.Algosaibi Group, a privately owned business with an array of manufacturing, services and trading operations and over 60 years of experience. KACS distributes and markets FMCG brands throughout the KSA and manages some of the largest and most technologically advanced distribution complexes in the Middle East; including dry, chilled and frozen facilities.
Commenting on the agreement, Edita Chairman and Managing Director Eng. Hani Berzi said: “We are truly excited to join forces with such an established partner like KACS who will allow us to take our regional expansion strategy to the next step. The agreement will extend our direct presence on the ground to the second biggest consumer market in MENA and will be a key driver of export growth for Edita as we aim to grow the contribution of MENA sales to our revenues beyond the c. 6% for which they accounted in 2015.
“Our push for export growth not only helps us establish a leading position in the packaged snack food market both locally and regionally, but also mitigates against foreign currency limitations that have gripped the Egyptian market for well over a year now,” Berzi concluded.
