Agthia Group acquires UAE’s Riviere to strengthen bottled water market leadership
The acquisition of Riviere triples Agthia’s household customer base, expands its market share, and enhances operational efficiency in the UAE.
UAE – UAE-based food and beverage company Agthia Group has acquired a 100% stake in Riviere Mineral Water Desalination & Filling Factory LLC, a leading player in the bottled water home and office services sector.
The financial terms of the acquisition were not disclosed.
The acquisition significantly expands Agthia’s customer base, bolsters its position in the UAE’s water sector, and enhances operational efficiency.
Riviere, founded in 2003, serves consumers across Abu Dhabi, Al Ain, Dubai, and Sharjah, operating three bottling facilities in Abu Dhabi and Dubai.
Agthia expects the acquisition to increase the revenue of its Water and Food division by approximately 6.5%. In 2024, the division generated Dh1.08 billion (US$294 million) in revenue, with EBITDA growing 17.5% to Dh173 million (US$47.1M).
Alan Smith, CEO of Agthia Group, stated: “Following strong growth in our water category in FY 2024, this acquisition of Riviere further strengthens our leadership in the UAE’s water sector, expanding our footprint and accelerating growth in the Home and Office Services business. Entering the mainstream segment allows us to serve a broader customer base while driving operational efficiencies across our network.”
Agthia anticipates that the acquisition will be immediately accretive to earnings, delivering both short- and long-term value through cost synergies, optimized operations, and enhanced capabilities.
Riviere co-owner Ali Moideen Kankayel remarked: “With Agthia’s leadership, scale, and operational expertise, Riviere is well-positioned to enhance customer offerings, accelerate growth, and strengthen its market presence.”
In 2024, Agthia’s group net revenue increased by 7.7% to Dh4.91 billion, while EBITDA declined slightly by 1.5% to Dh679 million (US$184.86M). Net profit, however, rose by 7.4% to Dh322 million (US$87.67M).
Following the acquisition, Riviere’s management team will remain in place to ensure business continuity and integration.
Agthia will retain the Riviere brand, recognizing its market strength and customer loyalty. The transaction is subject to regulatory approvals and customary closing conditions.
The acquisition follows Agthia’s recent leadership transition announcement. Salmeen Al Ameri will take over as Managing Director and CEO in June, succeeding Alan Smith, who will remain as an adviser.
Al Ameri, vice chairman of Agthia Group since May 2020, previously served as CEO of Silal, an ADQ company focused on food diversification and agricultural development.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
