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Trowers & Hamlins advises Actis on acquisition of 30% stake in leading Egyptian snack foods company

Trowers & Hamlins advises Actis on acquisition of 30% stake in leading Egyptian snack foods company

Trowers & Hamlins' Cairo office has acted as local counsel to Actis, the global, pan-emerging markets private equity firm, in respect of a US$102 million investment in Edita Food Industries, the largest independent snack foods business in Egypt and North Africa.

The firm carried out all legal due diligence, assisted in relation to the drafting and negotiation of the transaction documents, and acted as escrow agent and had responsibility for post-completion matters such as revision of articles of association.

Edita is the largest independent snack food business in North Africa and is considered the market leader in its core categories; its suite of products includes blockbuster brands like Molto, Todo, Bake Rolz, Twinkies, and Hohos.  This investment by Actis is one of the very few major acquisitions to close this year in Egypt.