US snacks manufacturer Kellanova has divested its majority share in Bisco-Misr, a biscuit company based in Egypt. The financial specifics regarding this transaction have not been disclosed.
On September 10, the United Arab Emirates-based Hayel Saeed Anam Group (HSA) acquired Kellanova’s interest in the biscuit brand. Previously known as the Kellogg Company, Kellanova had purchased Bisco-Misr in 2015 for $125 million, aiming to enhance its footprint within the Middle East’s evolving food and beverage industry trends.
Founded in 1957, Bisco-Misr operates manufacturing facilities in Cairo and Alexandria. Its product range features well-known brands such as Bisco Tea, Nice, Maamoul, Marie, Bisco Wafers, and Seasonal Kahk. The HSA Group believes that acquiring Bisco-Misr will facilitate its growth in Egypt and expedite the international expansion of Bisco-Misr’s popular offerings.
Muneer Hayel Saeed, a board member of HSA Group, remarked, “HSA Group is recognized across the Middle East for its extensive expertise in the biscuits sector and its steadfast commitment to innovation and product excellence. We strongly believe that this acquisition will pave the way for remarkable growth for Bisco-Misr, a brand deeply cherished in Egypt.”
Moreover, Saeed emphasized the coherence between Bisco-Misr’s legacy and HSA Group’s vision, assuring that they are devoted to enhancing their investments in Egypt. “We aim to tap into the significant potential of this market, thus contributing to its economic progress while ensuring we deliver high-quality products that consumers both love and trust.”
In response, Robert Chanmugam, managing director of Kellanova’s operations in the Middle East, North Africa, Turkey, and Sub-Saharan Africa, highlighted Egypt as a vital and strategic market for the company, showcasing long-term growth opportunities. Since its establishment in the region in 2015, Kellanova has demonstrated commitment to the local market by investing in talent development and bringing innovative products to the food and drink consumer trends landscape.
This decision to part with Bisco-Misr follows closely after Mars announced a substantial $36 billion deal to assume full ownership of Kellanova. According to the agreement, Mars will pay $83.50 per share, totaling approximately $35.9 billion—significantly surpassing prior estimates around $30 billion. The companies anticipate that the deal will finalize in the first half of 2025, pending requisite regulatory approvals.
As the food and drink business landscape continues to evolve, such strategic movements and acquisitions reflect the ongoing shift towards market consolidation and heightened competition, indicating a promising horizon for consumers and businesses alike.
