UAE’s Agthia inks deal to acquire Kuwaiti bakery business

Food major announces agreement to buy Al Faysal Bakery and Sweets, a household name in Kuwait.

Abu Dhabi-based food major Agthia Group on Thursday announced that it has signed a sales purchase agreement to acquire Al Faysal Bakery and Sweets, a household name in Kuwait.

Al Faysal Bakery and Sweets, which generated revenues of AED92 million, and net income of AED17.2 million in the 2019 fiscal year, has been serving the Kuwait market since 1991.

With over 500 employees, Al Faysal Bakery and Sweets produces fatayers, croissants, mini pizzas and new product categories such as cupcakes, puff and rusks.

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