Agthia Group Acquires Water Company in Turkey
In line with its geographic expansion strategy, Agthia Group, one of the leading food and beverage companies in the UAE, has acquired Pelit Su, the Turkey-based spring water company. Pelit is situated inAdana, in southTurkeyand the source of spring water originates from the renownedTorosMountains. Established in 2009, Pelit Su is a family-owned company.
The transaction is expected to close during the first half of 2012. The 23,000 sq m site includes an existing manufacturing plant housing three bottling lines with additional space for potential future capacity expansions.
Agthia Group chief executive Ilias Assimakopoulos comments: “This venture will provide access to high quality spring water facilitating Agthia’s growth into higher margin premium spring bottled water, targeting not only Turkeyand the UAE but the wider GCC and beyond.”
Based in Abu Dhabi, Agthia Group employs nearly 1,600 people across various food and beverage segments in UAE andEgypt.
