Johny Rockets Franchise Owners in UAE and Oman bought by Al Masah Capital
The Dubai-based private equity corporation Al Masah Capital has contracted for Al Faris Restaurant, which owns the Johnny Rockets franchise in the UAE and Oman.
The retailer Marka last month purchased the home-grown restaurant fetter Reem Al Bawadi for Dh315 million, and this month, Audacia Capital, a Dubai-based economics bank, bought a 30 per cent stake in Al Safadi Restaurants.
The move yesterday is also evidence that the weak point for mergers and acquisitions in the UAE’s cuisine and beverages section is growing.
This follows complete on the heels of two distinct deals.
The California-based Johnny Rockets entered the UAE in 1996 with an cafeteria in Jumeirah.
Al Masah’s cuisine and beverage arm, Diamond Lifestyle, contracted for the UAE-based operator of the Johnny Rockets burger chain. Diamond Lifestyle declined to devote the figure of the receive but circulating it expects to invest $150m in the category over the later three years.
"We glare forward to expanding the Johnny Rockets footprint in the UAE and Oman," said Amitava Ghosal, a deputy at Al Masah Capital and chief of Diamond Lifestyle.
Today, it has eight restaurants in Dubai, four in Abu Dhabi and two in Ras Al Khaimah, with a cumulative gift to cater to 1,100 clan at any such time.
Simi Nehra, the chief of mergers and acquisitions for the consultancy KPMG said the fragility for cuisine and beverage deals has strengthened in the yesteryear two quarters, a trend coming to resume for the foreseeable future. "One key foundation is that currently cuisine and beverage brand aggregators, who draw international brands to the UAE, are finding it greater and greater challenging to introduce polished unique concepts to the point, hence growth for current cuisine and beverage operations must show organically or over mergers and acquisitions," he said.
The chain has greater than 120 restaurants above the america, and expects to do a takeoff the the way one sees it by 2017.
In the Middle East and North Africa place, mergers and acquisitions are eventual to climb 10 per cent this year despite the fact the regress in oil prices, through the consultancy EY. A majority of such transactions are coming to nick place in sectors such as cuisine and beverages.
Abu Dhabi-based Gulf Capital expects to complete four to six acquisitions this year in the health benefit, display, cuisine and progress sectors.
In February, the German ecommerce associate Rocket Internet contracted for the Kuwait-based online cuisine labor services provider Talabat for €150m (Dh618.3m). Another online food delivery player, Foodpanda, in which Rocket Internet has an investment, contracted for UAE-based 24h.ae for an incognito amount.
Dubai is proposed to gather 8 per cent more tourists, reaching 14.3 million international visitors this year, making it the fourth most loved destination in the world among 132 cities, according to a MasterCard Global Destination Cities Index, reported this month.
Another 1,600 food and beverage outlets could feature by 2019 in the UAE and the sector will rocket an decent of 4 per cent annually during the next four years, through a publish from KPMG also this month.
About 66 per cent people are estimated to nip dinner out at least once around the week, spending roughly Dh120 per person, it said.
The retailer Marka last month purchased the home-grown restaurant fetter Reem Al Bawadi for Dh315 million, and this month, Audacia Capital, a Dubai-based economics bank, bought a 30 per cent stake in Al Safadi Restaurants.
The move yesterday is also evidence that the weak point for mergers and acquisitions in the UAE’s cuisine and beverages section is growing.
This follows complete on the heels of two distinct deals.
The California-based Johnny Rockets entered the UAE in 1996 with an cafeteria in Jumeirah.
Al Masah’s cuisine and beverage arm, Diamond Lifestyle, contracted for the UAE-based operator of the Johnny Rockets burger chain. Diamond Lifestyle declined to devote the figure of the receive but circulating it expects to invest $150m in the category over the later three years.
"We glare forward to expanding the Johnny Rockets footprint in the UAE and Oman," said Amitava Ghosal, a deputy at Al Masah Capital and chief of Diamond Lifestyle.
Today, it has eight restaurants in Dubai, four in Abu Dhabi and two in Ras Al Khaimah, with a cumulative gift to cater to 1,100 clan at any such time.
Simi Nehra, the chief of mergers and acquisitions for the consultancy KPMG said the fragility for cuisine and beverage deals has strengthened in the yesteryear two quarters, a trend coming to resume for the foreseeable future. "One key foundation is that currently cuisine and beverage brand aggregators, who draw international brands to the UAE, are finding it greater and greater challenging to introduce polished unique concepts to the point, hence growth for current cuisine and beverage operations must show organically or over mergers and acquisitions," he said.
The chain has greater than 120 restaurants above the america, and expects to do a takeoff the the way one sees it by 2017.
In the Middle East and North Africa place, mergers and acquisitions are eventual to climb 10 per cent this year despite the fact the regress in oil prices, through the consultancy EY. A majority of such transactions are coming to nick place in sectors such as cuisine and beverages.
Abu Dhabi-based Gulf Capital expects to complete four to six acquisitions this year in the health benefit, display, cuisine and progress sectors.
In February, the German ecommerce associate Rocket Internet contracted for the Kuwait-based online cuisine labor services provider Talabat for €150m (Dh618.3m). Another online food delivery player, Foodpanda, in which Rocket Internet has an investment, contracted for UAE-based 24h.ae for an incognito amount.
Dubai is proposed to gather 8 per cent more tourists, reaching 14.3 million international visitors this year, making it the fourth most loved destination in the world among 132 cities, according to a MasterCard Global Destination Cities Index, reported this month.
Another 1,600 food and beverage outlets could feature by 2019 in the UAE and the sector will rocket an decent of 4 per cent annually during the next four years, through a publish from KPMG also this month.
About 66 per cent people are estimated to nip dinner out at least once around the week, spending roughly Dh120 per person, it said.
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