Amethis agrees investment in Tiba, a leading rice-based food ingredients producer in Egypt
11 March 2026 • Cairo & Paris
Amethis is pleased to announce it has entered into definitive agreements for a significant minority investment in Tiba for Starch & Glucose (“Tiba”), a leading Egyptian producer of rice-based specialty food ingredients. The transaction remains subject to certain conditions and regulatory approvals and is expected to be finalized within the second quarter of 2026.
Founded in Egypt, Tiba specializes in the production of rice-derived value-added products including starch, fat powder, coffee creamer, and protein serving a broad range of applications. Through its high-quality product offering and strong operational and technical capabilities, the company has established itself as a key supplier to food manufacturers in Egypt with rapidly growing exports into global markets.
Tiba operates in a market supported by favorable long-term fundamentals including rising demand for high-quality sustainable and plant-based food ingredients that provide a range of health benefits compared to existing alternatives. With its established industrial base and differentiated product portfolio, the company is well-placed to capitalize on this growing trend.
Building on this specialized market positioning, Amethis’ investment will support Tiba’s next phase of growth, including expanding production capacity, strengthening operational capabilities, broadening its product offering and expanding into regional and global export markets, while further consolidating its position as a leading specialty manufacturer of high-quality plant-based food ingredients. In parallel, we will work with management to further strengthen the company’s environmental, social and governance practices as part of its continued development.
This transaction marks the eighth investment of Amethis MENA Fund II1 which focuses on backing high-potential SMEs across the MENA region.
“We are delighted to welcome Amethis as a strategic partner at this important stage of Tiba’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. We believe that partnering with Amethis will allow us to accelerate our growth plans and further strengthen our position in the Egyptian market while enhancing growth in export markets.”
— Hesham El Ghoroury, Chief Executive Officer, Tiba for Starch & Glucose
“We are very pleased to partner with Hesham, other Tiba shareholders and the entire Tiba team. Tiba has built a distinctive position in a sector supported by strong demand for sustainable plant-based food ingredients. Our investment aims to support the company’s growth ambitions while strengthening its operational capabilities and long-term development locally and globally.”
— Toufic Khoueiry, Senior Partner, Amethis
TRANSACTION ADVISORS
| Amethis was advised by Maatouk Bassiouni — Legal Advisor Deloitte — Financial & Tax Advisor Baker McKenzie — Antitrust Advisor IBIS Consulting — ESG advisor GLG — Commercial Advisor | Tiba was advised by Alliance Law Firm — Legal Advisor |
About Tiba
Tiba is an Egyptian manufacturer specializing in the production of rice-based starch protein products used in a wide range of food applications. The company supplies food manufacturers with high-quality plant-based ingredients supporting the development of Egypt’s food processing industry.
About Amethis
Founded by Luc Rigouzzo and Laurent Demey, Amethis is an impact-oriented private equity firm focusing on financial, environmental and social sustainability across Europe, Africa, and the Middle East. Amethis has raised more than €1,4 billion and has made more than 40 investments to date. Amethis provides growth capital to promising mid-sized champions in a variety of sectors, offering growth support through its international network covering Europe and Africa as well as systematic improvement of their environmental and social impacts. With seven offices in Paris, Abidjan, Casablanca, Nairobi, Cairo, Cape Town and Luxembourg, the Amethis team includes 60 experienced professionals with strong regional and sector expertise.
[1] Amethis MENA Fund II SCA SICAV-RAIF is closed to marketing. Any reference to investment(s) does not constitute a recommendation to buy or sell the securities of any company presented.