The Middle East and North Africa's leading confectionary announces expanded production capabilities in a move to leverage 120 years of brand equity and food industry expertise
Rashidi El-Mizan today announced that it has begun production at the Middle East and North Africa’s most advanced jam and tomato paste factory. The EGP 30 million facility is located in Sixth of October City.
The opening is part of Rashidi El-Mizan’s continued expansion of production as the company leverages its powerful local and regional distribution network to capture additional market share.
Rashidi El-Mizan, a Portfolio Company of regional consumer foods and agriculture platform Gozour, is among the region’s leading confectionary brands and is renowned for its tehina and halawa products. The company’s distribution network reaches 91 percent of Egypt’s 73-million-strong consumer market and continues to grow an export presence that already reaches 34 countries.
“Jam and tomato paste integrate well with Rashidi El Mizan’s present procurement, production and distribution set-up,” said Ahmed El Rashidi, REM’s Managing Director. “Horizontal expansion by growing our product list is a logical, cost effective way to drive revenue growth. 120 years of business at Rashidi El Mizan has evolved significant know-how that we are now deploying as we build a broader presence as a regional food producer, marketer and exporter.”
Citadel Capital, the leading private equity firm in the MENA region with US$ 8.3 billion in investments under control, acquired Rashidi El Mizan in late 2007. REM is a key Portfolio Company of Gozour, the private equity firm’s integrated regional multi-category consumer foods platform.
Citadel Capital is the leading private equity firm in the Middle East and North Africa. The firm focuses on building platform investments throughout the region in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity Specific Funds. Citadel Capital’s 19 OSFs now control Platform Companies with investments worth more than US$ 8.3 billion in 14 industries, including mining, cement, transportation, food and energy. Since 2004, the firm has returned more than US$ 2.2 billion in cash to investors, more than any other private equity firm in the region.
Gozour was established by Citadel Capital and a consortium of leading regional co-investors as a holding company for an integrated regional multi-category consumer foods platform. The group includes three primary lines of business: agri-foods and dairy (Gozour Agro), fast-moving consumer goods (FMCG, Gozour Foods) and intermediate goods such as corn, sugar, flour, maize and skimmed milk powder (Gozour Intermediate). Gozour companies include Dina Farms, El Aguizy, Rashidi El-Mizan, Enjoy, El-Misriyyeen, Mom’s Food and a stake in the National Company for Maize Production.
For more information, please contact:
Ms. Ghada Hammouda
Head of Corporate Communications,
Citadel Capital (S.A.E.)
Tel: +20 2 2791-4440 begin_of_the_skype_highlighting +20 2 2791-4440 end_of_the_skype_highlighting • Fax: +20 22 791-4448
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