Edita to invest c. EGP 400 mn in 2022 expansion
Edita Food Industries will invest around EGP 400 mn to add new production lines for its baked goods and wafers segments in 2022, IR director Menna Shams El Din told Enterprise. Some of the investment will also be earmarked for expanding operations at its recently inaugurated HoHos cake production facility in Morocco, Shams El Din said.
Edita has been all about baked goods + wafers lately: The company last week launched Freska Choco Sticks as part of its plan to expand its 15% market share in the wafer segment, which is its fastest-growing line of business. Meanwhile, its new EGP 135 mn production line — which is set to increase Edita’s production capacity for baked goods by 20% amid rising demand for its Molto range — should be operational before the end of 1Q2022, Shams El Din confirmed. Edita had also eyed acquiring the assets of Egyptian Belgian Company to further boost its baked goods production capacity, before the transaction fell through earlier this month.
As well as cross-border expansion: Edita expanded overseas for the first time with last year’s inauguration of its Moroccan facility, which could eventually include at least two more production lines. The snackfoods giant is also planning to expand to two new markets over the next five years, with entry into one of those slated for this year, as part of wider regional expansion plans.
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China's Zhengbang Group plans to invest up to USD 20 mn to set up a new poultry feed factory in Beheira, Al Mal quotes the company's Egypt general manager as saying. The company is currently in talks with authorities to finalize the licenses for the new plant, with construction expected to kick off in 2Q2022 and production to start by the end of the year.