Egyptian businessman Hani Berzi has seen the market value of his stake in Edita Food Industries, a growing packaged snack food market in Egypt, increase by over $40 million in 76 days, cementing his position as one of Egypt’s richest investors.
According to data tracked by Billionaires.Africa, the market value of Berzi’s stake in Edita Food has increased by EGP1.25 billion ($40.3 million) in the past 76 days, as shares in the Egypt-based consumer goods conglomerate increased by more than 27 percent due to a sustained decline in the group’s share price on the Egyptian Stock Exchange.
Edita Food Industries is a market leader in Egypt’s growing packaged snack food market. The consumer goods group manufactures and sells a variety of branded snack products through its extensive retail channel, including packaged cakes, croissants, rusks (baked wheat), and wafers.
Berzi, who founded the consumer goods conglomerate in 1996 and presently serves as chairman and managing director, owns a significant 41.95-percent stake in the leading packaged food manufacturer through Quantum Invest BV.
However, the share price of Edita Food Industries has risen by 27.24 percent, from EGP15.09 ($0.4884) 76 days ago to EGP19.20 ($0.6214) on August 2, as investors continued to pile up shares in the group after it delivered a record-breaking financial performance at the end of the twelve months of its 2022 fiscal year.
As a result of the double-digit percent slump in Edita shares, the market value of Berzi’s stake in the consumer goods conglomerate has increased from EGP 4.58 billion ($148 million) 76 days ago to EGP 5.82 billion ($188.3 million) at the time of writing this report, thanks to the double-digit surge in its shares on the Egyptian Exchange.
This translates to a total gain of EGP1.25 billion ($40.3 million) for the Egyptian businessman, who is one of the richest investors on the Egyptian Exchange and one of the wealthiest men in the country.
