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Egypt's rice-based food ingredients sector has a new private equity backer, and the company at the center of the deal has ambitions well beyond its home market.
Amethis has agreed to acquire a significant minority stake in Tiba for Starch & Glucose, the Egyptian producer of rice-derived specialty food ingredients led by chief executive officer Hesham El Ghoroury. The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals and other customary conditions. Financial terms were not disclosed.
Tiba produces a range of rice-derived value added products including starch, fat powder, coffee creamer and protein, supplying food manufacturers across Egypt while steadily expanding its export footprint into international markets. The company has built its position in a segment that is benefiting from rising global demand for sustainable and plant-based food ingredients that offer nutritional and functional advantages over traditional alternatives.
El Ghoroury said the Amethis partnership arrives at a pivotal moment in the company's development. "Over the past years we have built a strong platform in the rice-based food ingredients industry supported by a talented team and strong relationships with our customers," he said. "Partnering with Amethis will allow us to accelerate our growth plans and strengthen our position in the Egyptian market while expanding further into export markets."
Amethis said the investment will support Tiba's next growth phase across four fronts: expanding production capacity, strengthening operational capabilities, broadening the product range and deepening its presence in regional and global export markets. The firm will also work alongside Tiba's management team to strengthen environmental, social and governance practices as part of the company's long-term development strategy.
Toufic Khoueiry, senior partner at Amethis, cited the structural tailwinds behind the investment. "Tiba has built a distinctive position in a sector supported by strong demand for sustainable plant-based food ingredients," he said. "Our investment aims to support the company's growth ambitions while strengthening its operational capabilities and long-term development locally and globally."
The deal marks the eighth investment made by Amethis MENA Fund II, which focuses on backing small and medium-sized enterprises with growth potential across the Middle East and North Africa. The fund's growing portfolio reflects a broader investor conviction that food ingredients manufacturing in Egypt, underpinned by agricultural raw material availability and expanding export infrastructure, represents a compelling long-term opportunity.
