The well-known Riyadh, Saudi Arabia-based private equity firm Jadwa Investment has taken a 60% majority share in the well-known neighbourhood restaurant chain Tikkaway Restaurants. The transaction’s financial details are yet unknown.
This acquisition is Jadwa Investment’s second significant move in the restaurant industry, after it fully acquired the UAE-based Blackspoon Group in 2023, the owner of well-known franchises like Allo Beirut.
The deal was carried out via the Jadwa Food and Beverage Opportunities Fund, a specialised fund managed by Jadwa Investment that focuses on smart investments in the food and beverage sector.
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Jadwa Investment, which is well-known for managing client assets totaling more than $20 billion across a range of investment classes, including fixed income, real estate, private credit, public equities, and money market investments, intends to take advantage of Tikkaway Restaurants’ potential for expansion.
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.”
Tikkaway Restaurants is a desirable investment opportunity, according to Elie El-Khoury, Head of Private Equity at Jadwa Investment, who highlighted the company’s high potential for value generation. He outlined the company’s plan to combine innovative food and beverage ideas into a cutting-edge, rapidly expanding platform.
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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.”
About Jadwa Investment
Jadwa Investment, a renowned MENA investment management and advising organisation, offers a growing range of Shariah-compliant products.
About Tikkaway Restaurants
Tikkaway Grill serves healthful, Indian-inspired meals in a DIY model. For those hesitant to try new items, they want to demystify Indian food.
