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Edita will acquire Egyptian Belgian’s assets

Menna Shams El-Din, Director of Investor Relations at Edita Food Industries, stated that the company is in the process of acquiring the Egyptian Belgian Company’s assets, which manufactures baked goods, croissants, cakes, and donuts under the “OLE” brand.

She confirmed, in exclusive statements to Al Mal newspaper, that the Egyptian Belgian Company stopped working in 2019.

The deal will not include the acquisition of the Belgian Company as an existing entity legally, administratively, or financially, but the process includes the acquisition of industrial and construction assets only, and therefore a fair value of the Belgian Company’s shares will not be issued.

She explained that the goal of the acquisition is to increase Edita’s production capacity in the bakery, croissant, cake, and donuts sectors, especially with the growth in demand for its products in the local market and export.