ArabFinance: Edita Food Industries (EFID) announced it brought the dispute with Greece's Chipita to the Cairo Regional Centre for International Commercial Arbitration to be settled, according to the company’s statement filed to the Egyptian Exchange.

Edita and Chipita disputed over manufacturing and services contract signed on April 29th 2011 and amended on May 15th 2013.

Chipita co-founded Edita with the Berzi family in 1996. The Greece-based company’s Exodur Limited owned 13% of the leading Egyptian snack maker, after selling some of its shares when Edita went public in 2015.

The company posted a consolidated net profit of EGP 95,139,296 in the first half (H1) of 2020, a 45% decline from EGP 172,457,880 achieved in H1 2019.

Standalone net profit stood at EGP 129,666,638 in H1 2020, a 13% decline from EGP 150,629,445 posted in H1 2019.

Edita operates in the packaged snack food market. It manufactures, markets, and distributes a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.

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