Asyaf Investment Company and the Bait al-loulua Restaurant Company for fast food service announce the acquisition by Asyaf Investment Company of the ownership of the company that fully owns Bait al-loulua Restaurant chain.
The Bait al-loulua chain of restaurants is one of the most famous restaurants specialized in providing shawarma and fast food in the city of Riyadh, in addition to natural juices and appetizers, with high professionalism and high competitive quality. The Bait al-louluaRestaurant was established in 1989, that is, more than 35 years ago, and works on the concept of continuous development and improvement of the fast food industry.
Mr. Abdullah Al-Harbi, CEO of the Bait al-loulua Restaurants Company to provide fast food, commented on the deal signing ceremony today, saying:
We congratulate taking this step with the Asyaf Investment Company, with its capabilities and pioneering goals in the field of investment in the food and restaurant sector in the Kingdom, in addition to its distinguished experience and a highly qualified team with the aim of expanding and spreading in the Kingdom and increasing the market share, and in our endeavor to shorten the distance for our customers to be closer to them. The “Bait al-loulua Restaurants” is proud of its ten years with its customers, which started decades ago and continued, praise be to God, to this day, and we promise them a successful future, God willing, by reaching the expansion goals, while maintaining the usual quality.
Also, the founder and operations manager of Bait al-loulua Restaurant Company for fast food provision, Mr. Fahmy Bakir, commented on the signing ceremony of the deal, saying:
We are proud of this partnership with a distinguished partner, “Asyaf Investment Company”, which is one of the most successful and pioneering investment companies in this field, which will be a wonderful step towards the future to expand throughout the Kingdom, with well-thought-out expansion plans to cover all major cities, and contribute to the growth of this sector in line with Vision 2030 while preserving the quality and authentic taste of ” Bait al-loulua “restaurants, which began its career in this sector more than 35 years ago, proud of maintaining the highest quality standards with meals suitable for all family members around the clock.
Mr. Ayman bin Khaled Al-Ateeqi (Managing Director and CEO) of Asyaf Investment Company stated that we were pleased with the opportunity to invest in an ancient and distinguished chain of restaurants in the field of shawarma and fast food, such as “” Bait al-loulua “, as it is a distinguished addition to our customers to contribute to the growth of the ancient and pioneering local companies. He added, “The development of the food and fast food sector in the Kingdom in the recent period is a remarkable and fast-growing development, and it is a sector linked to the most important sectors targeted in Vision 2030 AD, which are the tourism and entertainment sectors, as the restaurant and fast food market in Saudi Arabia was classified as one of the fastest growing markets in the world.” The Middle East.
The volume of increasing demand, which is due to several economic and social reasons, in addition to the large growth in population numbers, is a major driver for the food and fast food sector in the Kingdom, and with regard to the target market, it is for all ages and segments, although the focus is on the young and young age group, as it is the largest in number and the most Spending in the field of fast food, and they are the educated, working and well-income segment – in both its parts, of course, men and women -.
In developing the “Bait al-loulua” restaurant chain, we will rely on a series of marketing, financial and technical plans that will reflect positively on its financial performance and productivity. We will develop the company and transfer it from a local chain of restaurants to a leading brand in the fast food arena.”
With regard to investment exit opportunities, the Managing Director and CEO of Asyaf Investment Company explained that the company aims to exit through offering and listing in the Saudi capital market after fulfilling all regulatory requirements and upon completion of all necessary development plans.
About Asyaf Investment Company
Asyaf Investment is a leading Saudi company in the field of managing investments in private markets, and it relies on a unique business model that aims to provide its clients with investment opportunities in multiple asset classes, including private equity, venture capital, private debt instruments, and real assets.
Asyaf Investment Company is a closed Saudi joint stock company registered according to the regulations in force in the Kingdom of Saudi Arabia, and its head office is located in the city of Riyadh – Kingdom of Saudi Arabia.
For more information, contact:
Asyaf Investment Company
9200 00 378