BiscoMisr

BiscoMisr is the largest biscuits company in Egypt and one of the top 5 biscuit companies in the Middle East and Africa.[1] It was established in 1957[2] during Egypt’s nationalization program as the Egyptian Company for Foods which has been the country’s main provider of baked goods and confectionery at that time.[3]

BiscoMisr
بسكومصر
TypeSubsidiary of Kellogg
IndustryFood industry
Headquarters
Cairo
,
Egypt
Key people
Amr Farghal (Chairman)
WebsiteOfficial website

History

The company was established with the purpose of supplying the army and the national schools at the time, providing a quick energy snack for the soldiers in the barracks as well as the school children on the playground. At the same time, BiscoMisr was the main confectionery supplier for the local market. For decades Bisco Misr acted as the trusted supplier for schools, governmental organizations, the army and the traditional market.[4]

BiscoMisr was handed over from the public sector to the private sector at the height of the revived privatization program in 2005. Since then, the company has seen a total makeover of BiscoMisr’s name.

The company was put up for partial sale in 1999 when the privatization process was on a roll. The private investor bought a stake in the company but did not take an active management at the time.

Just six years later, on January 16, 2005, BiscoMisr was fully privatized. The new shareholders took over the management in May 2005.

In January 2015, Bisco Misr became a subsidiary of the Kellogg Company.[5]

References
  1. "Majority of Bisco Misr investors back Kellogg takeover". Just Food. January 6, 2015.
  2. "BISCO MISR (BISM:Egypt (EGX)): Stock Quote & Company Profile - Businessweek". investing.businessweek.com. Retrieved 13 August 2012.
  3. "The Egyptian Company for Foods (Bisco Misr) « Africa Business Source". africabusinesssource.com. Archived from the original on 16 January 2013. Retrieved 10 August 2012.
  4. "Bisco Misr and Temmy's AFCON sponsorship spurs brand innovation". Zawya. July 3, 2019.
  5. "Egypt's Bisco Misr shareholders agree to sell $125 mln worth of shares to Kellogg, bidding ends". Reuters. January 15, 2015.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.