Ezdehar Management, a Cairo-based private equity firm, announced its acquisition of a majority stake in Kemet for Natural Food S.A.E. (“Kemet”), one of Egypt’s leading snack manufacturers, through its Ezdehar Mid-Cap Fund II.
This landmark transaction unites Kemet, a pioneer in pretzels and savory snacks, with Ezdehar’s expertise in scaling mid-cap companies, setting the stage for Kemet’s global ambitions in the healthy snacking market.
Kemet: A Homegrown Success Story
Founded in 1998, Kemet for Natural Food S.A.E. has grown from a local Egyptian brand into a global player, exporting its innovative snack products to markets across Africa, Europe, Asia, the Middle East, and Australia.
Renowned for its Pretzo and Mixy pretzel brands, as well as the pioneering filled pretzel snack Munchos, Kemet has built a reputation for bold flavours, dynamic product designs, and consistent quality.
The company’s diverse portfolio and focus on healthy snacking have positioned it as a leader in Egypt’s competitive food and beverage (F&B) sector.
Kemet’s success is driven by its commitment to innovation and a strong management team led by CEO Dr Mahmoud Hosny and Chief Operating Officer Nihal Said.
With a track record of resilience in challenging economic conditions, Kemet has demonstrated its ability to thrive and expand, making it an attractive target for strategic investment.
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Ezdehar’s Investment: Fuelling Global Growth
Ezdehar Management, established in 2014, is one of Egypt’s leading private equity firms, known for partnering with high-growth mid-cap companies to drive transformative expansion.
The acquisition of a majority stake in Kemet through Ezdehar Mid-Cap Fund II reflects the firm’s confidence in the F&B sector and Kemet’s potential to become a global leader in healthy snacking.
Amir Mishriky, Managing Director at Ezdehar, highlighted Kemet’s standout qualities: “Kemet is a standout company in Egypt’s F&B space, with wide export reach, strong product and brand equity, and a track record that demonstrates resilience and longevity regardless of the economic conditions.”
He emphasised Ezdehar’s commitment to working closely with Kemet’s founders and management to drive growth through product innovation and international expansion.
The Ezdehar Mid-Cap Fund II, which closed its first round at $168 million in January 2022, is backed by prominent international investors, including the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), British International Investment (BII), and the International Finance Corporation (IFC), among others.
This robust financial backing enhances Ezdehar’s ability to support Kemet’s ambitious growth plans.
Strategic Goals for Kemet’s Future
With Ezdehar’s investment, Kemet is poised to accelerate its growth trajectory. The company has outlined several key objectives:
- Product Portfolio Expansion: Kemet plans to diversify beyond pretzels into a broader range of healthy and savory snacks, catering to evolving consumer preferences for nutritious options.
- Production Capacity Growth: The investment will enable Kemet to scale up its manufacturing capabilities to meet rising global demand.
- Global Market Expansion: Kemet aims to strengthen its international presence by enhancing distribution networks and building brand equity in key markets.
Implications for Egypt’s F&B Industry
This acquisition marks Ezdehar’s sixth deal from its Mid-Cap Fund II and highlights the growing attractiveness of Egypt’s F&B sector.
With a young, growing population and increasing demand for healthy snacks, Egypt is emerging as a hub for innovative food brands.
The deal also highlights the role of private equity in fuelling growth for mid-cap companies, particularly in consumer-driven industries.
The partnership aligns with broader trends in Egypt’s startup and investment ecosystem, where funding for consumer-focused businesses has surged.
According to industry reports, Egypt’s startup scene secured over $600 million in venture capital in 2024, with F&B and consumer goods among the top sectors.
Ezdehar’s investment in Kemet reinforces this momentum, positioning Egypt as a key player in the global food market.
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Looking Ahead
As Kemet embarks on its next phase of growth, all eyes will be on how it leverages Ezdehar’s expertise to expand its product offerings and global footprint.
This partnership not only strengthens Kemet’s position but also sets a precedent for how private equity can drive transformative growth in Africa’s dynamic markets.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.
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