Shearman & Sterling advised EFG-Hermes Promoting & Underwriting and Goldman Sachs International as Joint Global Coordinators in the initial public offering of Edita Food Industries S.A.E. (“Edita”) and the listing of Edita's ordinary shares on the Egyptian Exchange and global depositary receipts on the London Stock Exchange. The transaction closed on April 2, 2015.
Edita is a leading manufacturer and distributor of snack foods in Egypt, selling over 3.2 billion packs of snacks in Egypt in 2014. Edita produces a wide variety of snacks in its four production plants, including packaged cakes, croissants, baked wheat snacks and candies, many of which are household names in Egypt. Edita also exports its products to over 14 regional markets. Edita's local brand portfolio includes household names such as Molto, Todo, Bake Rolz, Bake Stix, Freska and MiMiX, and it also has exclusive ownership of selected international brands including Twinkies, HoHos and Tiger Tail in Egypt, Libya, Jordan and Palestine.