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FinancialNews
12-03-23
Agthia Group sets ambitious revenue target of USD1.63bn by 2025 through Saudi expansion
(MENAFN) Agthia Group, a leading food and beverage company in the UAE, is aiming to generate USD1.63 billion in annual revenue by 2025 as part of its expansion plans in Saudi Arabia, according to the company's CEO, Alan Smith.
The company, which operates in the Middle East and North Africa region, has been aggressively expanding its footprint in Saudi Arabia, one of the largest food markets in the world, and has already made significant progress towards achieving its revenue target.
"We are very excited about the growth potential in Saudi Arabia, which is a key market for us. We have made significant investments in the country in recent years, and we are confident that our strategy will help us achieve our ambitious revenue target," Smith said.
Agthia Group has been expanding its presence in Saudi Arabia through strategic acquisitions and partnerships. In 2019, the company acquired Al Faysal Bakery and Sweets, a leading bakery and confectionery manufacturer in the country. It also signed a joint venture agreement with Al Dahra Agricultural Company to establish a state-of-the-art fodder production facility in the kingdom.
The company's expansion plans in Saudi Arabia are part of its broader strategy to become a leading player in the food and beverage industry in the region. Agthia Group has been investing heavily in research and development, product innovation, and sustainability initiatives to drive growth and create long-term value for its stakeholders.
"We are committed to delivering sustainable growth and creating value for all our stakeholders. Our expansion plans in Saudi Arabia are a key part of our strategy, and we are confident that we have the right team, products, and capabilities to achieve our goals," Smith added.
Agthia Group, which was founded in 2004, operates in four business segments: consumer, agri-business, trading, and real estate. The company's portfolio includes more than 40 brands in the food and beverage industry, including Al Ain Water, Capri-Sun, and Grand Mills.
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