Abu Auf to step up international sales drive
EGX-bound healthy foods brand Abu Auf is looking to grow its export volume 30% in 2022, aiming to ramp up sales of nuts, coffee and healthy foodstuffs to new foreign markets including Kuwait, Bahrain, Morocco, France, Germany, and several African countries, according to Ahmed Auf, CEO of parent company AUF.
It’s the second big foreign push for Abu Auf, which is opening five branches in the UAE through a wholly owned subsidiary. The company is now looking for new foreign markets for as many as 65 of its products, including spices and dates, Auf said in a statement out overnight (pdf) ahead of the opening this morning of the Food Africa expo at the Egypt International Exhibition Center. The event runs through Tuesday.
BACKGROUND: AUF aims to sell up to 49% of its shares in an offering on the Egyptian Exchange in 2Q2022. EFG Hermes is quarterbacking the transaction.