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Edita Food Industries, an Egypt-based consumer goods conglomerate led by multimillionaire businessman Hani Berzi, has announced plans to invest EGP1 billion ($54.5 million) over the next three years to expand its business lines in Egypt and other market segments.
The decision is consistent with the group’s commitment to enhance the region’s food manufacturing position and support the growth of the agro-allied industry as it strives to become a leading player in the Egyptian consumer goods industry.
The $54.5-million capital infusion will also put Edita on track to capitalize on the region’s young and rapidly growing population, as the new investment will allow Edita to present them with a broader range of products that cater to their changing tastes.
The consumer goods company opened a manufacturing facility in Morocco last week as part of its strategic expansion plans to capitalize on opportunities in the country.
The official opening of Edita’s first overseas production facility outside of Egypt represents a significant milestone in the company’s regional expansion strategy and solidifies its position as a multi-country player in the Arab world.
Edita Food Industries is a market leader in Egypt’s growing packaged snack foods market. The Berzi family and Exoder Limited founded the group in 1996 with the goal of creating an industrial behemoth in the fast-moving consumer goods segment.
Berzi, the chairman and managing director of Edita Foods Industries, is an Egyptian multimillionaire businessman who owns a significant 41.95-percent stake in the leading packaged foods manufacturer through Quantum Invest BV.
As of press time on April 11, shares in the leading consumer goods group were worth EGP7.51 ($0.4098) per share, 11.3-percent less than its opening price this year.
According to the current share price, the group’s market capitalization is EGP5.43 billion ($296.3 million), while Berzi’s 41.95-percent stake is valued at EGP2.28 billion ($124.3 million).
