Asyaf Investment Company and Shaboura Food Services Company, which owns the “Dusto Restaurants” chain, announce that the Asyaf Private Equity Fund (6), managed by Asyaf Investment Company, has acquired ownership of the entire shares of the Dustu Restaurants chain. Shaboura Food Services Company Limited, the owner of the leading brand “Dustu,” is a prominent player in the restaurant industry, particularly known for providing fast food, especially fried chicken (broasted).
Shaboura Food Services Company was established in the year 1920 AD. It has grown from one (1) branch to sixteen (16) branches in approximately eighteen (18) years and has achieved a prominent position as the third-largest restaurant chain specializing in fried chicken in the city of Riyadh. The company operates from an advanced central kitchen equipped with modern facilities, ensuring continuous adherence to quality standards in all branches. The company has recently experienced operational disruptions due to economic changes, especially after the Corona pandemic. The company is looking forward to regaining its position and restoring its operations with the entry of new investors to inject liquidity and provide appropriate financing to fulfill the company’s aspirations in the next stage.
Mr. Aiman bin Khaled Al-Ateeqi, Managing Director and CEO of Asyaf Investment Company, commented, “Investing in a well-established and popular restaurant chain in Saudi society, such as the Dustu restaurant chain, is a significant step that complements the plan and vision of Asyaf Investment Company to make a meaningful contribution in the food and fast-food restaurant sector and contribute to its development. It is also a valuable addition to Asyaf’s investment portfolio, creating diversity and new opportunities. He also added, “Asyaf aims to increase the number of acquired companies and carefully select successful projects that meet the desires of investors and the Saudi market.”
Mr. Abdullah Al Al-Sheikh, CEO and co-founder of Shaboura Foods Company Limited, commented on the deal signing ceremony today, saying, “We are delighted to announce the news of the acquisition by Asyaf Investment Company. This acquisition marks the beginning of achieving our goals and vision, and it will have a positive impact on our business.” Dustu Restaurants will contribute to the realization of our local and regional development and expansion plans, positioning the Dustu Restaurants chain as one of the most renowned fast-food restaurants in the Kingdom of Saudi Arabia and the Arabian Gulf in the near future. He also added, “The Dustu restaurant chain, a Saudi company of origin, is one of the oldest and most famous restaurants specializing in fried chicken (broasted), as well as fish, fried shrimp, and various sandwiches. Founded in 2007, it currently has 16 branches in the city of Riyadh and is considered one of the most specialized restaurants, widely recognized in Riyadh.
About Asyaf Investment Company:
Asyaf Investment is a leading Saudi company in the field of investment management in private markets. It operates based 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 in accordance with the regulations in force in the Kingdom of Saudi Arabia. Its headquarters is located in the city of Riyadh, Kingdom of Saudi Arabia. Asyaf Investment Company has obtained a license from the Capital Market Authority to engage in the management and operation of investment funds, management of investor portfolios, arrangement of merger and acquisition deals, and provision of advisory services in the securities business. This is pursuant to License No. 32-20213 issued based on the decision of the Capital Market Authority Council dated 9/14/2020 AD.
For more information, contact:
Asyaf Investment Company
920000378
