Kellogg has outbid private equity firm Abraaj in the race to acquire Egyptian snack firm, Bisco Misr.

The cereal giant sent a request to the Egyptian Financial Supervisory Authority to update its bid to EGP82.2 (US$11.49) from an earlier offer of EGP79 per share.

Abraaj had raised its offer from EGP73.91 initially, to EGP79.1 and then EGP80.58 which it offered on Thursday (26 November).

Bisco Misr had previously attracted bids from Saudi’s Savola Group and Juhayna Food Industries.

Check out just-food’s profile on the biscuit maker.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now