September 25, 2021

Dubai Week

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Aktia Board of Directors approves the acquisition of BMP

Aktia Board of Directors approves the acquisition of BMP

The Aktia Group, which operates in the food and beverage sector, announced that its Board of Directors has agreed to strategically acquire 100% stake in the BMP Group, which operates in the field of healthy snacks and innovative foods in the Gulf Cooperation Council countries. .

Payment

In a statement, it said BMB manufactures and distributes a variety of chocolates, Arabic sweets, bakery products, snacks and healthy foods for its brands and partners.

Launched in 2007, BMP owns a wide variety of confectionery and healthy food brands, including Azadir, Qamar, Freakin Healthy and Benoit – and distributes more than 2,000 subsidiaries in more than 23 countries, including the UAE, Saudi Arabia and the United States. .

According to the report, the value of the contract is expected to be paid in full in cash, so that its results will be immediately reflected in the company’s profits, and the regulatory authorities will have to obtain the necessary approvals upon completion of the acquisition and complete all required regulatory documents.

The report stressed that the acquisition of BMB would reflect Aktia’s commitment to expanding its healthy diet and allow it to benefit from BMB’s capabilities to ensure its presence in the snack and healthy food market. The deal also marks the extension of Aktia’s expansion in this market after it was acquired by Al Fo Dates earlier this year.

The acquisition of BMP by Aktia is expected to bring concrete added value to all those involved in the Group’s business in the short and long term, in addition to the wider areas that will benefit from business integration, increasing operating costs, increasing revenue and expanding the market. Sweets and healthy snacks by integrating skills and distribution networks.

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Profitable sectors

“Earlier this year, we announced the Group’s strategy and reaffirmed our commitment to invest in the fastest growing and most profitable sectors of the food and beverage sector,” said Khalifa Sultan Al Zuwaidi, Chairman of the Aqtia Group. BMB ஏற்ப ஏற்ப are in line with this commitment.

He hoped that the transaction would contribute to accelerating the group’s business in the snack food market, while adding new brands and strong capabilities to its portfolio, indicating that its acquisition would provide immediate value to Actia’s shareholders.

In turn, Alan Smith, CEO of Aktia Group, said the acquisition will allow Aktia to expand its presence and operations in the snack food market, diversify its product range, and provide quicker access to new markets and sources of revenue.

He continued, “We are pleased to explore the opportunities and opportunities to enhance our premium products by creating new healthy and wholesome snacks that meet the needs of the market.”

In the same context, BMP Group CEOs Bilal Paulout and Mohammed Kashab said: “As a company that has grown and developed in the United Arab Emirates, we are proud of this partnership with the next phase (Aktia). Development Journey We strive to serve our customers better by increasing our innovative products, expanding our business areas in the health food industry and continuously developing into a truly global food team.

For the past 12 months ending June 30, 2021, the BMP Group accounted for about 268 million dirhams in total revenue and pre-interest profit, tax, depreciation and about 54 million dirhams. EBITDA margins are expected to grow by about 20% this year. The group is headquartered in Dubai and has two factories in the city with a total area of ​​150,000 square feet. The team employs about 1,000 people.

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