BiscoMisr
| Subsidiary of Kellogg | |
| Industry | Food industry |
| Headquarters | Cairo, Egypt |
Key people | Samir Thabit (Chairman) |
| Website | Official website |
BiscoMisr is an Egyptian company specialising in baked goods. It was established in 1957[1] 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.[2]
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.
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.
BiscoMisr’s CEO has brought on a team of personnel with experience in multinationals; from marketing to IT and from sales and distribution to export.
In January 2015, BiscoMisr joined the global Kellogg family.
References
- ↑ "BISCO MISR (BISM:Egypt (EGX)): Stock Quote & Company Profile - Businessweek". investing.businessweek.com. Retrieved 13 August 2012.
- ↑ "The Egyptian Company for Foods (Bisco Misr) « Africa Business Source". africabusinesssource.com. Retrieved 10 August 2012.