The signing of the agreement
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.
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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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