Edita Food Industries, the Egypt-based snacks maker, is adding a new production line to accommodate the recent launch of its Freska Block wafers.
The Cairo- and London-listed company said today (8 February) it plans to invest EGP106m (US$6.7m) in its E-08 facility located in the city of 6th of October, which is part of the urban area of Cairo.
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The plant already manufactures the Freska snacks range but Edita needs additional capacity following this month’s roll out of the Freska Block, a filled wafer bar with a chocolate coating available in hazelnut cream, peanut butter and cappuccino butter.
With the investment, Edita said in a filing with the London Stock Exchange it will be able to double capacity from the start of last year to around 6,400 tons per annum. just-food is clarifying when the new line will be operational.
Another addition to the Freska range in 2019 – Freska Pops – resulted in Edita funnelling EGP14m into a new production line at the E-08 factory.
As well as wafers, Edita also manufactures cakes, biscuits and confectionery under brands such as Todo, Molto and Bake Rolz. The company generated revenues in the 2019 financial year ended 31 December of EGP4.02bn, an increase of 6.6%. Net profit climbed 19.3% to EGP362.3m. It supplies 17 countries in the Middle East and North Africa.
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By GlobalData
