Abu Dhabi – Mubasher: Agthia Group is planning to expand its food and beverage businesses through a number of acquisitions and investments with a focus on Saudi Arabia and Egypt, the company's CEO, Alan Smith, told Bloomberg Television.
Smith said that as the economy continues to grow, the company will explore the right opportunities, namely in Egypt and Saudi Arabia.
"We expect to see our growth coming from the consumer business," Smith said in an interview with Bloomberg Television.
Agthia's CEO does not expect the freight rate to further increase although they are set to remain high for the next 18 months.
It is noteworthy to mention that in May 2021, the company's shareholders approved to acquire an 80% stake in Nabil Foods, a Jordan-based producer of frozen and chilled processed protein products, after receiving the required regulatory approvals.
