Agthia Acquires Riviere to Triple Customer Base

Abu Dhabi-listed Agthia Group has acquired a 100% stake in the UAE-based mineral water desalination company, Riviere. This acquisition is poised to significantly expand Agthia's presence in the water and food segment within the United Arab Emirates, with projections indicating a 6.5% revenue growth. Retaining Riviere’s existing brand, Agthia aims to integrate Riviere's customer base within its operations to supply water to numerous offices and homes across the UAE. Riviere, which operates primarily in the mainstream segment, also boasts three bottling facilities in Abu Dhabi and Dubai, and serves customers in regions such as Abu Dhabi, Al Ain, Dubai, and Sharjah. The acquisition aligns with Agthia's strategy to enhance household customer reach and establish a formidable network in the industry. The deal awaits regulatory approvals, and financial details have not been disclosed. The strategic move follows shortly after Agthia's announcement of Salmeen Al Ameri as the incoming Managing Director and CEO, marking a transformative phase of growth for the company.