UAE company Agthia eyes acquisition of Turkish firm Pelit Su
26 December 2011
DUBAI - Agthia Group, one of the leading food and beverage companies in the UAE, on Sunday announced its acquisition plan for a Turkey-based spring water company.
The Abu Dhabi-based group has signed a Share Purchase Agreement for acquisition of 100 per cent shares of Pelit Su. The company is situated in Adana, South of Turkey and the source of spring water originates from the renowned Toros Mountains.
The transaction is expected to close during the first half of 2012. The 23,000sqm land includes an existing manufacturing plant housing three bottling lines with additional space for potential future capacity expansions.
“Agthia’s acquisition of Pelit Su is in line with our geographic expansion strategy. We embrace new opportunities in the food and beverage industry to deliver superior quality products that help people thrive and lead a more vibrant life,” Agthia Group chairman Rashed Mubarak Al Hajeri said in a statement.
Agthia Group is a majority government owned entity operating a portfolio of integrated businesses providing high quality and innovative food and beverage products for consumers across the UAE
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