Edita Food Industries, a packaged snack food provider, completed the acquisition of Fancy Foods, an industrial bakery with automated food production technology specializing in frozen bakery products. Financial terms were not disclosed. “Edita recognizes the tremendous potential in the Egyptian frozen bakery market and is committed to the long-term growth of this segment. Through our experience and benchmarking of comparable markets, this opportunity creates unbound synergies that will help us deliver significant value to customers and shareholders alike. Edita’s extensive distribution network and trusted brands will play a key role in boosting penetration and increasing market share as the Company expands into a new segment and offers consumers a unique value proposition. The deal equips the Company with the necessary frozen technology infrastructure, marking a significant step in applying our R&D to complementary ventures, while capitalizing on our market-leading portfolio of proprietary brands,” Hani Berzi, Edita Chairman.