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Eat your heart out, Willy Wonka: How Edita beat out global household names to become the leading snack food producer in Egypt
If you’ve ever been starving in Egypt without a kitchen anywhere in sight, it’s likely that you’ve tried a snack by Edita. Since its founding in 1996, the maker of such brands as Todo, Molto, Bake Rolz and Twinkies, expanded its product offering, grown its manufacturing capacity, and has even launched a factory in Morocco. It did this during the economic storm that came with the EGP float and 2016 and the high interest rate environment that has only just begun to subside. Today, Edita has done more than hold its own against some of the biggest global fast moving consumer goods brands. The company holds a leading market share in each of its five segments that span the Egyptian snack food market, including cakes, croissants, rusks (baked wheat), wafers, and candy. While some of its local competitors were bought out, they launched a successful IPO back in 2015 that generated EGP 24.2 bn, emerging as one of the most successful FMCG plays of the past decade in Egypt. Company founder and industry veteran Hani Berzi sat down with us to walk through the ups of developing and marketing new brands, the lows of struggling through a challenging microclimate and the highs of its ambitions to become an Egyptian multinational. Hani also gives us a nuanced perspective on the Egyptian food market, in his capacity as founder, chairman and CEO of the company and as the chairman of the Food Export Council. ** Subscribe to Making it here for https://bit.ly/35lugvb. ** Subscribe to Enterprise, our 6am briefing on business, finance and economics in Egypt (also free) at www.enterprise.press. Making It is grateful for the generous support of: CIB, Egypt’s number-one private-sector bank and the partner of choice for CEOs and leaders of businesses at all stages of their growth stories The United States Agency for International Development, which has a 40 year history of inspiring Egyptian success in partnership with the Government and people of Egypt. EFG Hermes, the leading financial services corporation in frontier emerging markets helping businesses realize their full growth potential. Links: * Edita: Edita * Enterprise: Enterprise.press * Inktank: Inktankcommunications.com See omnystudio.com/listener for privacy information.
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