Agthia Group to acquire Al Foah Company from Senaat for $122m.

Agthia Group, a food and beverage company, is set to acquire Al Foah Company, the world’s largest date processing and packaging company, from Senaat, one of the UAE's largest industrial investment holding companies, for $122m. "We see this proposed transaction as the integration of two leading operators in their respective categories that will create a national F&B champion. The combined company will have the scale, strength and ambition to create one of the top 10 F&B players in the Middle East. We also see an opportunity to leverage Agthia’s expertise in FMCG brands across Al Foah’s world-class date offering to help accelerate sales in established and new markets and categories. This will in turn benefit Al Foah’s valued community of Emirati date farmers by increasing demand for their locally-farmed produce and protecting an essential part of our proud heritage," H.E. Mohamed Hassan Alsuwaidi, ADQ CEO.