Agthia completes Turkish acquisition

Press release

Published March 15th, 2012 - 09:36 GMT

Agthia Group

Agthia Group PJSC, one of the leading Food & Beverage companies in the UAE listed on the Abu Dhabi Securities Exchange (ADX), announced the completion of its 100% share acquisition of Pelit Su, the Turkey based Spring Water Company. The acquisition was first announced in December 2011, and since then Agthia has taken management control of the business.

The Company is situated in the southern Turkish province of Adana with motorway access to the port of Mersin in South West Turkey that provides excellent transportation links. The source of the spring water originates from the renowned Taurus Mountains.

Commenting on the acquisition, His Excellency Rashed Mubarak Al Hajeri, Chairman of Agthia Group, said, “Agthia’s acquisition of Pelit Su is in line with our geographic expansion strategy. The acquisition marks Agthia Group’s second international expansion following our investment in Egypt. It reinforces our mission to deliver superior value to our stakeholders and our wholehearted commitment to produce food and drink that help families grow strong and lead lives full of vitality.”

Agthia Group CEO Mr. Ilias Assimakopoulos said, “The acquisition of Pelit Su will expand Agthia’s bottled water business footprint beyond the UAE, with direct access to a natural spring water source. This will provide access to high quality spring water facilitating Agthia’s growth into higher margin premium spring bottled water, targeting not only Turkey but other regions as well.”

Background Information

Agthia Group

We are a leading Abu Dhabi based food and beverage company.
Established in the UAE in 2004, and listed on the Abu Dhabi Securities Exchange (ADX) since 2005, the Agthia Group consists of a world-class portfolio of integrated businesses and brands.

We provide high-quality, trusted, and essential food and beverage products for customers and consumers across the GCC, Turkey, and the wider Middle East.

The Company’s assets are located in the UAE, Saudi Arabia, Oman, Egypt and Turkey.More than 4,500 employees are engaged in manufacturing, distribution and marketing various food and beverage products : Water and Beverages (Al Ain Water, Al Ain Zero Water, Al Bayan Water, Alpin Natural Spring Water, Ice Crystal Water, Delta Water, Bambini Kids Water, Al Ain Fresh Juice, Capri-Sun Fruit Juice); Food (Grand Mills Flour, Yoplait Yogurt, Al Ain Tomato Paste, Al Ain Frozen Vegetables, Monty's Bakehouse Frozen Bakery products, The Grand Baker Ambient Bakery products, Pure Natural Convenience Food items, Date Crown Dates); Animal Feed (Agrivita, Al Wasmi, Anderson Hay)