Edita Signs an Agreement to Acquire 49% of Tuama Jebur Abbas and Establishes Edita Iraq

Cairo, 16 January 2025

Edita Food Industries S.A.E. (EFID.CA on the Egyptian Exchange & EFID.L on the London Stock Exchange), a leader in Egypt’s packaged snack food market, 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 USD 8 million, through a capital increase. The establishment of Edita’s first local production presence in Iraq is a key milestone in Edita’s regional growth strategy.

Established in 2018, TJA is a family-owned snack manufacturing company in Iraq, specializing in high-quality packaged snacks. With its local presence and operating factory, TJA is well-equipped to support Edita’s expansion in Iraq.

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.

To ensure the transfer of Edita’s expertise and industrial capabilities, the partnership will implement a technical know-how and manufacturing assistance agreement, focusing on maximizing production capacity, efficiency, and control. Additionally, a trademark agreement will secure the rights to launch Edita’s brand portfolio in Iraq, broadening the company’s product range and market presence.

Edita aims to leverage its established brand equity through exports, including the Molto and Tiger Tail brands, which generated approximately USD 10.2 million in 2023. With this move, Edita is transitioning from an export-focused model to local production, further strengthening its presence in Iraq.

Eng. Hani Berzi, Group Chairman and CEO of Edita Food Industries, commented, “Today marks a pivotal moment in Edita’s regional expansion strategy, leveraging our proven recipe for entering underserved markets and creating new segments through our brands, technical know-how, and innovation. Iraq’s growing economy and untapped snack food market present a unique opportunity for us to establish a national champion. We’re excited to partner with TJA, whose local expertise will help us bring Edita’s innovation to Iraqi consumers.”

Menna Shams El Din, Chief Investment Officer & Corporate Affairs of Edita Food Industries, added, “This strategic investment is a significant milestone and will be a key growth driver for Edita. The acquisition of TJA will allow us to quickly enter the Iraqi market, with plans to invest over USD 27 million over the next three years. These investments will expand operations, more than double production capacity, and unlock new opportunities in the packaged snack food market, delivering sustained long-term value for our investors.”

Qusay Tuama Jebur, Managing Director of TJA, commented, “This partnership with Edita marks a significant milestone in our journey, combining our expertise with Edita’s capabilities to enhance production and deliver products that meet the highest quality standards. Together, we are opening new doors of opportunity in local and regional markets, paving the way for sustainable success.”

Hussein Al Mansour, Iraq Embassy Commercial Attaché, added, “We congratulate Edita and Tuama Jebur Abbas on this strategic partnership, which represents a significant step in advancing Iraq’s food industry. The Iraqi government remains committed to supporting investments and fostering collaboration that leverages Egyptian expertise. We are confident this partnership will achieve lasting success and drive meaningful progress.”