Saudi retailer Fawaz Abdulaziz Alhokair & Co. acquires 10 food and beverage brands

Posted under Catering News ME, News.
by Dina Maaty | Published 2 weeks ago

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Marwan Moukarzel

Saudi fashion retailer Fawaz Abdulaziz Alhokair & Co. has announced the acquisition of 10 international food and beverage franchise brands in over 200 locations from Food and Entertainment Company Ltd., valued at SAR340 million.

The franchise operations of the 10 international food and beverage brands recorded an EBITDA value of SAR 54 million against a revenue of SAR 354 million in FY2019. The acquisition reinforces the company’s vision to create a stronger and more impactful “shoppertainment” experience.

Growth will be focused on targeted Quick Service Restaurant (QSR) businesses. The primary brands of this portfolio which make up the bulk of locations within the acquisition include Seattle’s Best Coffee, Cinnabon, Mama Bunz and Molten Chocolate Café.

The remaining brands cater to the casual dining sector, and include Crêpe Affaire, Life with Cacao, Turkish coffee chain Kahve Dünyasi, Caffe Concerto, Azal and Bluefin restaurants, and Sütiş.

“This exciting transaction marks our company’s successful expansion into the food and beverage sector. The acquisition gives us a Kingdom-wide portfolio of strong brands that cover a wide range of tastes and products and fast-growing challenger brands with significant growth potential,” says CEO Marwan Moukarzel.

“We’re very excited about this first step, the future potential of F&B, and the value it will bring for our customers. We’re going to build on this to create new experiential opportunities for our customers,” he adds.

Global F&B expert Peter King recently joined as CEO of Food for Innovation at Union Company to help steer the operational transition to Fawaz Abdulaziz Alhokair & Co. and streamline the integration of the two brand powerhouses.

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