Agthia Completes Acquisition of BMB Group

The UAE’s Agthia Group, one of the region’s leading food and beverage companies, has announced that it has completed the integration of BMB Group, a leading regional healthy snacks and food company with a growing global footprint, into its snacking portfolio.

The founders of BMB Group have established a strong foundation, creating a brand known for quality and innovation in the healthy snacks and food industry, Agthia Group said in a disclosure to Abu Dhabi Securities Exchange (ADX) on Wednesday.

Over the past two years, the founders have collaborated closely with Agthia to ensure a smooth and effective transition of knowledge, skills, and expertise, laying ground for the Agthia Snacking Division to fully take over the management of BMB, as envisaged at the time of the acquisition.

During the transition period, Agthia has successfully leveraged new revenue streams, capitalised on cost and revenue synergy opportunities, utilized broader regional and channel expertise, and expanded its product offerings.

With a legacy of over 16 years, BMB has been a pioneer in confectionery and healthy food products, offering a range of products in more than 20 countries worldwide, including the UAE, Saudi Arabia, and the US, where BMB supplies some of the biggest retailers such as Walmart, Sam’s Club and Costco.

Boosting MENA’s Snacking Sector

Following the transaction, Agthia’s Snacking Division, under the leadership of Mubarak Al Mansoori, will continue to develop the company to strengthen its position in the forefront of the MENA region’s thriving snacking sector.

Agthia Group’s CEO Alan Smith said that the seamless integration of BMB into Agthia’s snacking portfolio is yet another testament to our capability in executing value-accretive expansion opportunities for his company and its shareholders.

“We extend our gratitude to the founders for their invaluable participation during the integration process. Since the inclusion of BMB, we have successfully grown and diversified our international footprint, capitalized on cross-selling synergies across our snacking segment, and continued to deliver healthy snack products worldwide,” he added.

Co CEOs of BMB Group Bilal Ballout and Mohamad Khachab said that as founders, they witnessed the evolution and the extraordinary journey of their company over the past years.

“Having remained actively involved during the integration phase, we are immensely proud of what we have achieved together with Agthia. Now, as we prepare to step down, we do so with a profound sense of gratitude and confidence in the capable hands that will guide BMB forward into its next chapter of growth and success,” they said.

Headquartered in Dubai, UAE, BMB started in 2007 as a small warehouse in Sharjah. Today it has two manufacturing facilities stretching over a combined total of 150,000 sq ft.

BMB manufactures and distributes a wide variety of chocolate, Mediterranean sweets, bakery ingredients and healthy snacks and food for its own brands and partners. Its portfolio includes popular confectionery and healthy food brands such as Asateer, Al Qamar, Freakin’ Healthy, and Benoit.