Multiply Group’s acquisition marks a key milestone in the UAE business market. The company has completed the purchase of all shares of IHC Food and IHC CM within Ghitha Holding. This deal strengthens Multiply Group’s position in the food production sector and adds significant value to its diverse investment portfolio.
Strategic Growth in Food Production
Multiply Group acquisition comes as part of the company’s plan to grow its presence in the essential food sector. Ghitha Holding is well-known for its integrated food production and distribution across the UAE. Acquiring these two companies allows Multiply Group to enhance its supply chain and contribute to food security in the region. This expansion fits well with the company’s broader strategy to balance investments across consumer and energy sectors.
Shareholder Approval and Financial Details
The acquisition was approved by Multiply Group shareholders through a share swap arrangement. This approval enabled the company to increase its share capital and complete the transaction. Multiply Group CEO Samia Bouazza emphasized that this acquisition is a strategic merger of vision and capital, positioning the company well for long-term growth amid economic uncertainties.
Continued Leadership and Future Plans
Ghitha Holding will continue to operate as a subsidiary under the leadership of CEO Faisal Ameen. This ensures consistent management while tapping into Multiply Group’s resources and strategic support. The acquisition expands Multiply Group’s footprint across various sectors, including mobility, packaging, media, and beauty, as well as its growing focus on food production.
Looking Ahead
Multiply Group’s acquisition of IHC Food and IHC CM in Ghitha Holding is a strategic move to enhance its presence in the UAE’s food production industry. The deal strengthens the company’s diversified portfolio and supports its vision of building a resilient and future-ready investment group.
