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UAE-based business conglomerate Hayel Saeed Anam Group (HSA) has acquired a majority stake in Bisco Misr, Egypt’s largest biscuit company, from American cereal and snack maker Kellanova (FKA Kellogg Company), the companies said in a press release (pdf). The companies did not disclose the value of the transaction.
What’s next? The transaction is set to close by 1Q 2025, subject to conditions and regulatory approvals, as well as the completion of a mandatory tender offer process for minority shares, the statement read.
Background: Kellanova acquired 86% of Bisco Misr back in 2015, as part of a number of investments that it made into Egypt’s F&B sector at the time.
HSA is no stranger to Egypt: The group has been present in the Egyptian market over the past 30 years through FMCG player Arma Group. The Bisco Misr acquisition will help the group develop its presence in the country and “accelerate the internationalization of Bisco Misr’s popular brands.”
