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Monday, 23 December 2019

Mansour Group to set up food and beverage JV with Egypt’s TBS

INVESTMENT WATCH- Mansour Group to set up food and beverage JV with TBS: Mansour Group is in talks with TBS to form a EGP 150 mn JV that will set up a baked goods factory to supply TBS’ 25 retail outlets, sources close to the matter told Al Mal. The factory will be the first in a series of projects the JV will engage in as a food and beverage company. There was no mention of the expected cost of the first planned facility. In 2017, private equity firm Intro Group was reported to have bought a 50% stake in the company which owns TBS and the Four Fat Ladies chain. Sources who spoke to Al Mal back then said TBS was valued at north of EGP 50 mn when the transaction took place.

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