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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% 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. 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,"said Ahmed El Rashidi, REM's Managing Director.
Citadel Capital, the leading private equity firm in the MENA region with $8.3bn 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.
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Posted by Rana Mesbah
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