Announcements
Jadwa Investment Acquires Majority Stake in Tikkaway, Expanding its F&B Platform to KSA
Wed, 17 July 2024
Riyadh, 17 July 2024: Jadwa Investment, a leading investment management and advisory firm in the Middle East, announced today its latest private equity investment in the F&B sector with the acquisition of Tikkaway Restaurants (“Tikkaway”).
Through its Jadwa Food and Beverage Opportunities Fund (the “Fund”), Jadwa Investment acquired a 60% stake in Tikkaway, a popular homegrown restaurant chain in Saudi Arabia with 20 branches. The brand pioneered its niche product offering and has plans to significantly expand its footprint to over 40 branches across the Kingdom in the next 24 months.
The transaction marks Jadwa’s second acquisition in the restaurants sector, following its investment in Blackspoon Group in late 2023.
Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, commented on the transaction, “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 El-Khoury, Head of Private Equity at Jadwa Investment, stated, “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.”
Speaking for Tikkaway, Founder and CEO Eng. Abdullah Al-Ekresh added, “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.”
About Jadwa Investment
Jadwa Investment is a Riyadh-headquartered investment management and advisory firm with total client assets of more than SAR 80 billion (USD 20 billion) in public equity, private equity, real estate, private credit, fixed income, and money market investments. The firm's clients include government-related entities, local and international institutional investors, leading local family companies and offices, and high-net-worth individuals.
Jadwa Investment is licensed by the CMA as a capital market institution, with registration number 6034/37, for dealing as a principal and agent, arranging, advising, managing and acting as a custodian in securities business
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