Here's a rundown of Alamar's performance, store geographical distribution

Logo of Alamar Foods Co.

Alamar Foods Co. plans an initial public offering (IPO) of 10.63 million shares, representing 41.7% of its capital, on the Saudi Exchange (Tadawul).

Retail investors started subscription to 1.06 million shares of Alamar, or 10% of total shares offered, at SAR 115 each, set by the book-building process. The two-day offering will end on July 21.

The group operates fast-food restaurants in the Middle East, North Africa and Pakistan, besides being the exclusive franchiser and operator of the Domino's Pizza brand in the Middle East, North Africa and Pakistan, running stores in 16 countries there. This is in addition to the Dunkin' brand, having the exclusive right to develop and operate its stores in Egypt and Morocco.

According to the IPO prospectus, the group carries out its activities through two main companies, namely Alamar Foods, which manages its operations in the Kingdom. Meanwhile, Alamar Foods DMCC, which the company acquired in 2020, handles international operations in the Middle East, North Africa and Pakistan, excluding the Kingdom.

The table below shows the development stages of Alamar:

*The group reduced its stake in Casual Plus to 45% in 2021

According to the prospectus, the group operates 523 Domino's stores, of which 275 are located in the Kingdom, and its reach extends across the Middle East, North Africa and Pakistan.

Stores in the Kingdom are located in Riyadh, Jeddah, Dammam, Madinah, Al-Khobar, Dhahran, Jubail, Qatif, Yanbu, Buraydah, Hofuf, Al Mubarraz, Al Rass, Al Mithnab, Ras Tanura, Al Majmaah, Tabuk, Hail, Al Zulfi, Al Bukayriah, Al Kharj, Rabigh, Hafr Al Batin, Dawadmi, Unayzah, Nairiyah, Al Muzahimiyah, Thuwal, Khamis Mushait, Al Qunfudhah, Jazan, Abha, Sakaka, Sabya, Al-Baha, Al-Bishah, Abu Arsh, Al-Darrab, Mahayel Asir, Ahad Rafidah, Wadi Al-Dawasir and Al-Namas.

Stores outside the Kingdom rose to 51% of total stores operated by the group over the past decade, during which the number of stores nearly tripled amid increased profitability.

Alamar also operates 44 Dunkin' stores in Egypt and Morocco: 40 are located in Egypt and four others in Morocco.

The following is a table showing the distribution of the company's stores:

Alamar’s stores represent 71.1% of the total, while others occupied by sub-franchise owners mark 19.4% of its total stores. As much as 9.5% of the group’s total stores are affiliated to joint ventures (JVs) by the end of 2021.

According to the prospectus, the group directly and indirectly owns 11 subsidiaries in the Middle East, North Africa and Pakistan, while directly and indirectly owning three main subsidiaries. Details of affiliated subsidiaries are as follows:
 

*Indirect ownership through Alamar DMCC

Alamar’s total sales amounted to SAR 868.1 million in 2021. The group’s total sales from Domino’s stores operated by the group in the Middle East, North Africa and Pakistan accounted for 92.7% of total sales. Sales from Dunkin’ stores in Egypt and Morocco covered 7.3% of total sales.

The group's sales from Domino's stores in the Kingdom alone amounted to SAR 585.2 million, representing 67.4% of its total sales.

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