Agthia Embarks on Transformational Journey with its Strategy to Become an F&B Leader by 2025
Agthia Group PJSC revealed its long-term strategy to become an F&B leader in the Middle East, North Africa and Pakistan (MENAP) region and beyond by 2025. The strategy is built on three strategic pillars (growth, efficiency and capability) and is designed to extend the Group’s market leadership, provide significant value for all stakeholders and continue to drive profitability growth with a consumer-centric approach.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210413005841/en/
Khalifa Sultan Al Suwaidi - Chairman - Agthia Group (Photo: AETOSWire)
The Abu Dhabi-based organisation is engaged in manufacturing, distribution and marketing of a wide range of F&B products, including popular regional brands such as Al Ain (water), Al Foah (dates), Al Faysal Bakery & Sweets (bakery) and Grand Mills (flour and bakery) among others.
Khalifa Sultan Al Suwaidi, Chairman, Agthia Group, said: “The strategy will unleash the full potential of the exceptional capabilities we have built, create greater opportunities for our people, and act as a catalyst for us to again set new benchmarks in the F&B industry.”
Alan Smith, Chief Executive Officer, Agthia Group, said: “Our strategy stems from an in-depth assessment of the business and a clear vision of where we want to go. We will continue to get leaner, protect our core business and ensure that our progress is agile and deliberately paced.”
Agthia will deliver on growth by upscaling in priority markets, expanding into value-add categories and driving margin improvement by 2025. This will be made possible by strengthening the core base, including strengthening the water category, protecting flour and feed categories as well as shifting the portfolio mix towards higher margin categories.
In addition, Agthia has embarked upon a robust inorganic growth strategy that is focussed on acquisition of companies with strong consumer brands that are market leaders in their respective categories.
“The strategy will generate cost and revenue synergies through cross-selling opportunities and enhancing the Group’s regional brand portfolio,” explained Smith.
Agthia is targeting a savings of AED200 million through synergy extraction as well as simplification of its existing and acquired businesses. Along with strategic partnerships for distribution and marketing, the organisation will enhance commercial and working capital excellence, operational optimisation, lean procurement as well as manufacturing and supply chain management. Non-scalable assets will be divested while suppliers and specifications will be streamlined.
Agthia will continue to develop its human capital and acquire additional talent with a clear attention to category management expertise, to align its capabilities with the expected demands of a growing organisation.
Their key focus for the next five years includes digitalising performance management systems and implementing change initiatives across the board with a continued emphasis on sustainability and innovation.
The Group will continue to drive efficiencies in its operations, optimise product portfolio, maintain a principled allocation framework and adopting a best-in-class Environment, Social & Governance (ESG) agenda to enhance consumer experience and deliver shareholder returns in line with global standards.
For more information: www.agthia.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Data From Incyte’s Oncology Portfolio Accepted for Presentation at the 2021 EHA Virtual Congress12.5.2021 22:18:00 CEST | Press release
Incyte (Nasdaq:INCY) today announced that multiple abstracts highlighting data from its oncology portfolio will be presented during the upcoming European Hematology Association (EHA) 2021 Virtual Congress, held virtually from June 9-17, 2021. “We are pleased that data highlighting the strength of Incyte’s oncology portfolio and partner-sponsored programs will be presented at this year’s EHA Virtual Congress,” said Peter Langmuir, M.D., Group Vice President, Oncology Targeted Therapeutics, Incyte. “In particular, data being presented at the congress – including the first presentation of data from our Phase 2 study of parsaclisib, our PI3kδ inhibitor, in autoimmune hemolytic anemia; an oral presentation on real-world data for ruxolitinib, our JAK1/JAK2 inhibitor; and an ePoster from our Phase 2 combination study of ruxolitinib and parsaclisib in patients with myelofibrosis – reinforce our commitment to finding solutions for patients with significant unmet medical needs.” Key abstracts ac
Monument Assurance Luxembourg Acquires AME Life Luxembourg ("AMELL") From Covéa12.5.2021 21:55:00 CEST | Press release
Monument Re announced today that, subject to necessary regulatory approval, Monument Assurance Luxembourg will acquire AME Life Luxembourg (“AMELL”) from French Mutual Insurance Group Covéa. AMELL is a well-established Luxembourg-based life insurance company with market presence in Luxembourg, Belgium and Italy. Financial terms of the transaction were not disclosed. The transaction will have no impact on AMELL clients and policyholders. “We are pleased to have reached agreement with Covéa to acquire its subsidiary AMELL. This transaction represents an important step in our consolidation strategy by further strengthening our presence in Luxembourg,” said Manfred Maske, CEO of Monument Re. Change of control of the company will follow satisfaction of customary closing conditions, including receipt of regulatory approvals. For further information: To learn more, please visit our website at www.monumentregroup.com or contact Fiona Davies at email@example.com, +1(441) 400-9300. Monume
Raven Industries Launches the OMNi Brand12.5.2021 15:15:00 CEST | Press release
Raven Industries, Inc.(the Company; NASDAQ:RAVN) a leader in agriculture technology, announced today the launch of its new product brand and autonomous growth platform, OMNi. This new product brand highlights Raven’s advancements in autonomous solutions for agriculture with a strategic offering of two integrated products: OMNiDRIVE™ and OMNiPOWER™. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210512005126/en/ The OMNi name (meaning "all") will take center stage within Raven. “Empowering ‘all’ is exactly what OMNiPOWER™ and OMNiDRIVE™ bring to the agriculture industry. OMNi enables holistic, hands-free precision; it gives the farmer total control of their time and maximizes operational productivity and efficiency,” said Nick Langerock, Director of Strategic Marketing for Raven. “As we bring OMNi to market, we want farmers to understand that some of their pain points are now more manageable through autonomous solutions. OMNi
SentinelOne Receives Highest Score for the Type A Use Case (“Lean Forward” Organizations) in the Gartner 2021 Critical Capabilities for Endpoint Protection Platforms12.5.2021 15:00:00 CEST | Press release
SentinelOne, the autonomous cybersecurity platform company, today announced that Gartner has positioned SentinelOne with the highest score in use case Type A in Gartner’s 2021 Critical Capabilities for Endpoint Protection Platforms report1. SentinelOne received the highest score for all three customer types out of 19 vendors. Gartner says, “Type A organizations, also referred to as 'lean forward' organizations, adopt new technologies very early in the adoption cycle.” “We believe receiving the highest product score among early technology adopters in the 2021 Critical Capabilities for Endpoint Protection Platforms validates our commitment to disrupt and broaden the endpoint space,” said Raj Rajamani, Chief Product Officer, SentinelOne. “These organizations tend to focus on innovative solutions that address their business, technology and security needs. Receiving the highest score for 'lean forward' companies highlights our ability to take cybersecurity defenses to new levels of speed, e
New CloudBlue Revenue Management Solution Solves for Recurring Billing Reconciliation12.5.2021 15:00:00 CEST | Press release
CloudBlue, a leading cloud ecosystem technology company, announced today the launch of CloudBlue Rev, a solution that enables partners to ‘rev’ up their channel revenue management. CloudBlue Rev simplifies and streamlines channel revenue management to enhance efficiency, save time and increase profitability. Available now in the United Kingdom with planned rollouts across the world, learn more here. The new solution is based on the recently acquired HarmonyPSA architecture and is the latest addition to CloudBlue’s rapidly expanding portfolio of technologies and services for the channel. CloudBlue Rev helps channel reseller partners regain valuable time as they transition to an everything-as-a-service business by automating quoting, billing and reconciliation. By streamlining these processes into a single platform, resellers will now be able to automate profit tracking across sales motions with integrated discounting and markup, as well as quickly set margins and gain insight into contr
Hiro Capital Leads $6.4m Investment in Game Innovators Twin Suns Corp and FRVR12.5.2021 15:00:00 CEST | Press release
Twin Suns Corp and FRVR will use Hiro’s $6.4m of investment to expand development and to accelerate growth. Twin Suns Corp is a new AAA-game studio, founded by >20-year industry veterans - Tim Longo Jr. (Star Wars: Republic Commando, Halo, Tomb Raider), Forest Swartout Large (Hitman and Tomb Raider), and Jeff Morris (Gears of War and Unreal Tournament). Twin Suns Corp is building a next-gen AAA cross-platform title that will launch an exciting new IP franchise; with additional team members that have worked on Star Wars, Tomb Raider, Hitman, Halo, Elder Scrolls, Fallout, Gears of War, Unreal Tournament and Avengers. FRVR is an instant games ecosystem platform powering frictionless game play on any device, founded by Chris Benjaminsen (Yahoo, PlayerScale) and Brian Meidell (Cape, GameAnalytics) With more than 1bn players, FRVR has partnerships that puts their tech and games onto billions of devices. Twin Suns Corp and FRVR join other creator-founded Games teams Polyarc, Snowprint, Lightf
Nuclera Acquires E Ink Digital Microfluidics Unit12.5.2021 14:53:00 CEST | Press release
Nuclera, a fast-growing biotech company developing enzymatic protein and gene synthesis technologies, and E Ink, the leading innovator of electronic ink technology, are pleased to announce the acquisition of E Ink’s digital microfluidics unit into the newly formed US subsidiary of Nuclera. Combining the technologies of the two companies will enable the delivery of a revolutionary desktop protein and gene “bioprinter” with breakthrough speed and convenience for researchers in human health, agriculture, and other markets of global importance. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210512005575/en/ Nuclera desktop bioprinter powered by digital microfluidic technology. (Photo: Business Wire) Nuclera has been working in a strategic partnership with E Ink since 2018 to deploy Nuclera’s proprietary biopolymer synthesis technologies on E Ink’s digital microfluidic devices. Instead of the physical channels found in convention