Feather Invest has plans to inject EGP 95m to develop the Arafa El Gamea company and rehabilitate its products, in addition to help it regain its presence in the Egyptian market after a one-year suspension. This came after its acquisition of 75% of the shares of Arafa El Gamea.
According to Riyad El Kelany, member of the board of directors of Feather Invest and one of the main founders, the decision made by the board to acquire Arafa is a good example of the company’s ability to restructure competitive industries and increase the market share of one of the most important trade and investment brands in Egypt, which has always been famous for the production of Halawa and Tahina, some of the most consumed food products in the market.
Feather Invest’s report is working in the field of restructuring investment opportunities and utilising important investment opportunities in the framework of its target to develop industrial sectors, improve the opportunities in the Egyptian economy, and create local jobs in the market. El Kelany stressed that his company’s high abilities and good staffenable it to achieve its ambition to become one of the most important industrial investors in Egypt.
According to Seif Allah Fahmy, one of the founders and members of the board of directors of Feather Invest, said that the company has looked into more than 120 direct investment opportunities in the industrial field in Egypt over the past two years, noting that the acquisition of Arafa El Gamea is the first step towards serious investment in the national industrial field.
For his part, Abdel Aziz Arafa, chairperson of Arafa El Gamea, said that the acquisition of the company by Feather Invest came with the consent of the Arafa family and its confidence in Feather to develop the company and help it regain its position in the local market as one of the main producers of foods products.