The acquisition reflects Nestlé’s ambition to invest in Egypt and foster the development of the rapidly growing soluble coffee segment which has been gaining popularity among Egyptians.
Mr. Yasser Abdulmalak, Chairman and CEO of Nestlé Egypt: “We are pleased to conclude the signature of this agreement. Our investments and expansion plans in Egypt reflect the importance of this market to us. In the last 5 years Nestlé has made investments close to 1 Billion EGP in manufacturing and distribution facilities as well as skill development. We will continue to invest in the Egyptian market and this acquisition comes as a reaffirmation of that.”