In the following lines, Al-Shorouk reviews the most important information about the company:
Owned by the “Auf” family, one of the largest commercial families specialized in importing and wholesale trade, especially nuts, dried fruits and dates, since 1940.
In 2010, the family launched the “Abu Auf” brand to sell health products, coffee and nuts.
– In December 2010, the first branch was opened in El Merghany, Heliopolis, at an estimated cost of EGP 500,000.
– In 2011, the branch was closed due to lack of sales due to political events at the time.
– In 2012, the family returned and opened a new branch in City Stars Mall, Nasr City.
– In promoting its products, the family relied on its expertise in import and wholesale trade, and used the research of specialized companies to monitor market needs and cover it in a way that had not been previously presented in the country.
– The Chairman of the Board of Directors of the company, Ahmed Mohamed Auf, took a decision to rapidly expand the opening of branches in various places, through its own resources and borrowing from banks.
– In 2019, Tanmia Capital Venture for Direct Investment (TCV), bought a 25% stake in Abu Auf.
– In 2020, Abu Auf acquired the United Company for the Coffee Industry for 350 million pounds, to start the journey of manufacturing coffee products on its own instead of relying on other suppliers.
– In 2020, the company pumped new capital of 50 million pounds to establish a coffee factory in the 10th of Ramadan area.
– The factory handled the operations of supplying products to the branches, as well as selling to merchants.
– The number of branches in 2019 reached 120, rising to 150 in 2020, and 180 in 2021.
– The company owns a sweets factory in Al Salam City, dedicated to the manufacture of all date products, including “Maamoul” and butter products.
– In 2021, the company expanded outside Egypt by opening a subsidiary company in the UAE with the aim of expanding in the Gulf and increasing the volume of exports.
The company started its business in the UAE by opening 5 branches.
At the end of 2021, the capital of the Egyptian company amounted to about 200 million pounds.
– At the end of 2021, the company announced its intention to float on the stock exchange to earn about $200 million by offering 40-49% of the company’s capital; to finance expansions in the Gulf.
– Sales in 2019 amounted to 450 million, rising to 650 million in 2020, until it jumped to about one billion pounds in 2021.
– In July 2022, the Emirati Agthia Group announced the acquisition of a 60% stake in Aouf Group for $155 million, which means that the total value of the company amounts to about 5 billion pounds.
The deal is awaiting approval by the regulatory authorities, and then the Emirati company will take over the management of Abu Auf.
– Upon completion of the transaction, the ownership structure will be 60% for Agthia Group, 30% for the Auf family, and 10% for Tanmeyah Capital Ventures.