Egypt’s Gozour, a subsidiary of private equity firm Citadel Capital, has acquired 100 per cent of Nile Company for Food Industries (Enjoy), one of the country’s leading dairy and juice producers.
Gozour bought the company from Haykala, a private equity firm set up in 2005 by Egypt’s Commercial International Bank.
The parties did not disclose the value of the sale.
Enjoy is the second largest producer of packaged milk and juices in Egypt and the fourth largest producer of yoghurt in the country.
Citadel Capital and other investors established Gozour as a regional agrifood business in 2007 after buying out Dina Farms, the largest private farm in Egypt.
Following the sale, Enjoy will only buy milk from Dina Farms, making it the only milk manufacturer in the country to have its own dairy farm.
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