The acquisition of Bisco-Misr will help HSA further develop its presence in Egypt.
Kellanova has announced plans to sell its majority stake in Bisco-Misr to Hayel Saeed Anam (HSA) Group.
✔️ Bisco-Misr is one of the largest biscuit companies in Egypt and one of the top five in the Middle East and Africa. It was established in 1957 and has manufacturing plants in Cairo and Alexandria, Egypt, and produces brands including Bisco Tea, Nice, Maamoul, Marie and Bisco Wafers.
✔️ HSA Group has extensive experience in producing and selling top biscuit brands across the MENA region. Founded in 1938, today, it employs around 35,000 people in more than 85 companies across 80 markets in South Asia, Europe, the Middle East and Africa.
The acquisition of Bisco-Misr will help HSA further develop its presence in Egypt and accelerate the internationalisation of Bisco-Misr’s popular brands.
Muneer Hayel Saeed, board member of HSA Group, stated:
"Bisco-Misr’s deep-rooted legacy and reputation perfectly align with our vision. We are committed to continuing to grow our investments in Egypt and tapping into the immense potential of this market, contributing to its economic prosperity while continuing to deliver the high-quality products that consumers love and trust.”
The transaction is expected to close by Q1 2025, subject to the satisfaction of customary conditions, relevant regulatory approvals and the completion of a mandatory tender offer process for minority shares. Financial terms of the deal were not disclosed.
Source: Foodbev.com
