Egypt’s Edita Food Industries has taken full control of its confectionery subsidiary after buying out a minority interest.

The Cairo- and London-listed business said in a stock exchange filing it has concluded an agreement to purchase a 22.7% stake in Edita Confectionary Industries (ECI) held by the Greece-based company Confindel for EGP55m (US$3.1m), giving it a 99.98% controlling share in the sweets venture. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This purchase will allow the company to make full use of economies of scale as it works to capture further gains from the growing demand for candy products, one of the fastest-growing segments in Egypt’s snack-food market,” Edita Food Industries explained in the filing.

Edita Confectionary Industries is a joint business venture based in Beni Suef, Egypt, that was formed by the parent company and Confindel in 2008. It manufactures candies, toffees and jellies. 

Meanwhile, Edita said it is introducing a new confectionery product under its MiMiX Candy brand.

The company is launching BonBon, juice-filled stick candies, after commissioning a new production line at the so-called E15 facility in Beni Suef. Edita said it invested EGP62m in the new line.   

In 2017, Edita signed a memorandum of understanding with Morocco’s Dislog Group to form a $10m manufacturing and distribution joint venture for its products – Edita Food Industries Morocco.