The global private equity firm, Sun Capital, announced on Thursday its acquisition of a majority stake in Arabia Group, one of Egypt's leading manufacturers of home appliances and electronics.

The deal is Sun Capital's second major investment in the Middle East and North Africa (MENA) region, following its purchase of Al Dahra Agriculture, a UAE-based agribusiness company, earlier this year.

Arabia Group was founded in 1982 and has since grown to become a leading player in the Egyptian market with a wide range of products, including air conditioning units, televisions, refrigerators, and washing machines.

The company has experienced steady growth over the years, thanks to its focus on innovation, quality, and customer satisfaction, which has earned it a loyal customer base and a strong reputation in the market.

Sun Capital's investment will help Arabia Group to further expand its operations and product range, and to tap into new markets and customers both in Egypt and abroad.

Commenting on the deal, Mahmoud El Khatib, CEO of Arabia Group, said: "We are excited to partner with Sun Capital, a global investor with a proven track record of creating value in businesses. With their support, we will be able to accelerate our growth plans and continue to provide our customers with innovative and high-quality products."

Meanwhile, Ahmed Hamdan, Managing Director at Sun Capital, added: "We are thrilled to make our second investment in the MENA region, and particularly in Egypt, which we see as a key growth market for us. We are impressed by the strength of Arabia Group's brand and products and look forward to working with their management team to build on their success."

The terms of the deal were not disclosed, but it is understood that Sun Capital will acquire a controlling stake in the company, with the existing management team retaining a significant minority stake.

The transaction is subject to regulatory approvals and is expected to be completed in the coming months.