Abu Dhabi – Mubasher: Ghitha Holding, a subsidiary of International Holding Company (IHC), plans to acquire Green Park Investment’s entire shares.

The transaction is still subject to obtaining regulatory approvals, according to a bourse filing.

Green Park is an investment entity under the IHC food portfolio that focuses on the food sector business. 

In the first nine months (9M) of 2022, the net profits attributable to the owners of Ghitha hiked to AED 114 million from AED 32.39 million in the year-ago period.

Revenues from contracts with customers amounted to AED 1.50 billion in 9M-22, higher than AED 409.33 million during the January-September 2021 period.

The basic earnings per share (EPS) stood at AED 0.63 in 9M-22, versus AED 0.32 in 9M-21.

Last year, Ghitha, formerly known as Zee Stores, unveiled a rebranding in line with its strategy to enlarge its portfolio and anchor its position in the food industry.