Dubai / UAE. (hsa) Hayel Saeed Anam + Company (HSA Group) and Kellanova Company, the majority shareholder in the Egyptian Food Company Bisco-Misr, announced the signing of a Share Sales and Purchase Agreement (SPA), to sell Kellanova’s shares in Bisco-Misr to Hayel Saeed Anam Group + Company (HSA Group). The transaction is expected to close by Q1-2025, subject to the satisfaction of customary conditions, relevant regulatory approvals and the completion of a mandatory tender offer process for minority shares. The signing of this agreement demonstrates Egypt’s tremendous investment potential and will accelerate the growth of both companies in the Egyptian market, HSA Group said in its announcement.
Muneer Hayel Saeed, Chairman of ARMA Group and Board Member HSA Group: «HSA Group is recognized across the Middle East for its wide expertise in the biscuits industry and its unwavering commitment to innovation and product excellence. We firmly believe that our agreement will help open a remarkable growth for Bisco-Misr, a highly valued and iconic brand in Egypt. Bisco-Misr’s deep-rooted legacy and reputation perfectly align with our vision. We are committed to continuing to grow our investments in Egypt and tapping into the immense potential of this market, contributing to its economic prosperity while continuing to deliver the high-quality products that consumers love».
Hayel Saeed Anam + Company (HSA Group) is a multi-billion-dollar diversified business conglomerate with extensive experience in producing and selling top biscuit brands across the MENA region. HSA Group was founded in 1938. Today, it employs around 35,000 people in more than 85 companies across 80 markets in South Asia, Europe, the Middle East, and Africa. HSA Group owns and operates market-leading companies renowned for their prestigious brands, including Abu Walad, Teashop, and several other top consumer labels. The group boosts a strong presence in Egypt over the past 30 years, through ARMA Group, a market leader in the food industry. The acquisition of Bisco-Misr will help the group further develop their presence in Egypt and accelerate the internationalization of Bisco-Misr’s popular brands.
Robert Chanmugam, Kellanova’s Managing Director for the Middle East, North Africa, Turkey and Sub-Saharan Africa: «This deal is a strategic step demonstrating the positive climate and potential for investments in the Egyptian market. Hayel Saeed Anam Group (HSA Group) is committed to innovation and excellence and have extensive expertise in biscuit manufacturing which makes them an ideal partner to drive the future growth of Bisco-Misr. Egypt is an important and strategic market for Kellanova with long-term growth opportunities. Since the time we began operations in 2015, we have remained committed to the country and will continue to invest to grow our business, develop local talent, and bring innovations to the marketplace across our diverse portfolio of cereals, snacks, and noodles products, offering diverse choices to meet the demand of Egyptian consumers.»
Bisco-Misr is one of the largest biscuits companies in Egypt and one of the top 5 in the Middle East and Africa. It was established in 1957 and has been a trusted and iconic snacks provider in the baked goods and confectionery category for decades. With manufacturing plants in Cairo and Alexandria, it produces a diverse range of brands including Bisco Tea, Nice, Maamoul, Marie, Bisco Wafers, Seasonal Kahk and many more. Bisco-Misr has delighted Egyptian consumers for generations with high quality, innovative and differentiated products.
About HSA Group: Hayel Saeed Anam + Company is a multi-billion-dollar diversified business conglomerate. HSA Group was founded in 1938. Today, it employs around 35,000 people in more than 85 companies across 80 markets in South Asia, Europe, the Middle East, and Africa. HSA Group owns and operates market-leading companies renowned for their prestigious brands. The group operates globally in over 10 different business sectors from industry to services and from FMCG to trading.
About Kellanova: Kellanova Company is a leader in global snacking, international cereal and noodles, and North America frozen foods with a legacy stretching back more than 100 years. Powered by differentiated brands, Kellanova’s vision is to become the world’s best-performing snacks-led company, unleashing the full potential of its differentiated brands and its passionate people. Net sales for 2023 were USD 13 billion.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- CA-1 Robot: Circus Group Launches Munich Showroom
- Ferrero: opens new production facility in Illinois
- HungryPanda: Raises 55 Million to Accelerate Growth
- McCormick: Reports Third Quarter 2024 Performance
- Subway Sandwiches: Continues to Expand Its Global Presence
- Nissin Foods: Acquires Frozen Food Manufacturer ABC Pastry
- SnackFutures Ventures: makes investment in Doughnut Start-Up
- PepsiCo: To Acquire Siete Foods For 1.2 Billion
- Europastry S.A.: goes public on the Spanish stock exchange
- Insomnia Cookies: Reaches 300 Store Locations Globally
- Reborn Coffee: Announces Joint Venture in Thailand
- Campbell: Launches Next Chapter of Growth
- Mondelez: to acquire a majority stake in Evirth
- Syngenta Group: Reports H1-2024 Earnings
- General Mills: Reports Fiscal 2025 First-quarter Result
- Pret A Manger: Sales rise 10 percent in H1-2024
- General Mills: Sells Its North American Yogurt Business
- One Rock Capital: Plans Acquisition of Europe Snacks
- T.Hasegawa acquires Abelei Flavors
- AB Foods: announces H2-2024 Trading Update