Edita Food Industries, a leading player in Egypt's packaged snack food market, has announced a major step in its regional expansion strategy. The company signed a partnership agreement with Baghdad-based Tuama Jebur Abbas (TJA), acquiring a 49% stake in the Iraqi family-owned snack manufacturer. The USD 8 million acquisition will be implemented through a capital increase and paves the way for the establishment of Edita Iraq, marking Edita's first local production venture in the country. This partnership reflects Edita's ambition to capitalize on Iraq's growing economy and its largely untapped snack food market. The agreement involves the creation of a UAE-based holding company granting Edita management control. It also includes the acquisition of TJA's operating factory, which features three production lines—two for cakes and one for biscuits. Edita plans to invest USD 27 million over the next three years to expand operations, increase production capacity, and introduce its popular snack brands, such as Molto and Tiger Tail, to Iraqi consumers. The company aims to transition from its current export-focused model to localized production in Iraq. Expertise Transfer and Local Collaboration Under the partnership, Edita will bring its technical know-how and manufacturing expertise to Iraq, aiming to maximize production efficiency and enhance product quality. The agreement also secures the use of Edita's trademark portfolio, enabling the introduction of a broader range of products in the Iraqi market. Speaking on the development, Eng. Hani Berzi, Group Chairman and CEO of Edita Food Industries, said: "Today marks a pivotal moment in Edita's regional expansion strategy. Iraq's growing economy and untapped snack food market present a unique opportunity for us to establish a national champion. We're excited to partner with TJA, whose local expertise will help us bring Edita's innovation to Iraqi consumers." Menna Shams El Din, Chief Investment Officer & Corporate Affairs of Edita, highlighted the strategic importance of the move, stating: "This investment is a significant milestone that will drive long-term growth for Edita. By partnering with TJA, we're able to rapidly enter the Iraqi market, expand production capacity, and unlock new opportunities in the packaged snack food sector." Qusay Tuama Jebur, Managing Director of TJA, expressed optimism about the collaboration, saying: "This partnership combines our local expertise with Edita's technical capabilities to deliver high-quality products to Iraqi consumers. Together, we are paving the way for sustainable success in both local and regional markets." Government Endorsement The strategic partnership has also received recognition from the Iraqi government. Hussein Al Mansour, Commercial Attaché at the Iraqi Embassy, commented: "This collaboration represents a significant step in advancing Iraq's food industry. The government remains committed to supporting investments that foster collaboration and leverage regional expertise. We are confident this partnership will drive meaningful progress." With this strategic entry into Iraq, Edita is poised to strengthen its regional presence and solidify its position as a leading player in the Middle East's packaged snack food industry.
