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Sunday, 9 October 2016

Edita signs distribution agreement in Saudi Arabia, secures loan in Egypt

HOHO’S GOING TO KSA: Edita Food Industries announced on Wednesday it signed an agreement with Khalifa A. Algosaibi Cold Stores (KACS) that will see KACS distribute Edita’s Hoho’s, Twinkies, and Tiger Tail (HTT) brands throughout Saudi Arabia. Edita acquired regional rights to the HTT brands last year and has said it would use them as a the cornerstone of its regional expansion drive. “KACS distributes and markets FMCG brands throughout the KSA and manages some of the largest and most technologically advanced distribution complexes in the Middle East; including dry, chilled and frozen facilities.”

Edita also said it received an EGP 170 mn medium-term loan facility from the Arab Bank to finance the construction and services operations at its new E08 factory. The loan is payable over seven years. Edita also secured an EUR 6 mn loan, payable over seven and a half years, to finance a new production line.

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