03 Jumada I 1446 - 4 November 2024
    
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Eye of Dubai
Business & Money | Wednesday 17 July, 2024 11:15 am |
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Jadwa Investment acquires majority stake in Tikkaway Restaurants in Saudi Arabia

Jadwa Investment has announced its latest private equity investment in the food and beverage (F&B) industry by acquiring a majority stake in Tikkaway Restaurants, marking Jadwa's first acquisition in the Kingdom’s restaurant sector.

 

 

 

In a statement to Argaam, the company explained that Jadwa Food and Beverage Opportunities Fund acquired a 60% stake in Tikkaway Restaurants, a leading local restaurant chain with 20 branches in Saudi Arabia. The company is working on a significant expansion to reach over 40 branches across the Kingdom within the next 24 months.

 

 

 

The deal represents the fund's second investment in the restaurant sector after acquiring Blackspoon Group in December 2023, Jadwa Investment added.

 

 

 

Commenting on the deal, Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said:  “We are delighted to announce our partnership with Tikkaway, marking our second investment in the region’s F&B sector and first in Saudi Arabia. The acquisition reflects our positive outlook on the GCC’s thriving consumer sector, which is driven by transformational government initiatives and a young and growing population.”

 

 

 

Elie Khoury, Head of Private Equity at Jadwa Investment, added:  “Tikkaway has excelled in capturing market share with its attractive pricing and product offerings, appealing to a wide consumer base. We believe the company presents a compelling investment opportunity owing to its significant value creation potential. This aligns with the Jadwa Food and Beverage Opportunities Fund's strategy of consolidating attractive F&B concepts into a leading high-growth, cost-efficient platform.”

 

 

 

On behalf of Tikkaway, Engineer Abdullah bin Akresh, Founder and CEO of the company, commented:  “We are excited to partner with Jadwa Investment and leverage its expertise to accelerate our growth and institutionalize our business. This collaboration will be instrumental in making Tikkaway a leading name in the vibrant Saudi F&B sector. With Jadwa's distinctive capabilities and track record in private equity, we are confident this partnership will help us strengthen our market position and overall business performance.”

 

 

 

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