Asyaf Investment Company and Sugar Sprinkles Trading Company (Sugar Sprinkles chain of stores) announce the acquisition of “Asyaf Private Equity Fund (7),” managed by Asyaf Investment Company, of the entire ownership of the Sugar Sprinkles chain (Sugar Sprinkles).
The Sugar Sprinkles chain of stores has been one of the pioneers in offering and developing cupcake products since mid-2009. It is renowned as one of the most popular confectionery and cake stores in the Kingdom of Saudi Arabia, aiming to provide a wide variety of high-quality products.
Mr. Aiman bin Khaled Al-Atiqi, Managing Director and CEO of Asyaf Investment Company, commented:
Investing in a well-established and distinguished chain of stores like Sugar Sprinkles is a unique and highly significant opportunity for Asyaf. The accomplishments of Sugar Sprinkles stores are truly remarkable, and their success in the confectionery market has earned the trust of customers.
We at Asyaf are delighted with this promising investment opportunity and are working in collaboration with Sugar Sprinkles to develop a business plan and create a major presence in the confectionery industry. Together, we aim to expand both locally and regionally.
Mr. Ayman further added, “Asyaf Company looks forward to increasing and diversifying its portfolio of acquired companies in the future, with plans to launch them in the parallel Saudi market (Nomu).”
Mr. Majed Al Sabra, General Manager of Rashat Sugar Trading Company, commented on the signing ceremony of the deal today, saying:
Since 2009, Sugar Sprinkles has been one of the most renowned confectionery stores. Our partnership with Asyaf is an important milestone in developing the Sugar Sprinkles Company, achieving its strategic objectives, and expanding our presence locally and regionally. We are proud of this significant step, which will pave the way for further success.
About Asyaf Investment Company:
Asyaf Investment is a leading Saudi company specializing in investment management in private markets. It operates on a unique business model that offers clients investment opportunities across various 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 prevailing regulations in the Kingdom of Saudi Arabia. Its headquarters are located in Riyadh, Saudi Arabia. Asyaf Investment Company holds a license from the Capital Market Authority to manage and operate investment funds, handle investor portfolios, arrange merger and acquisition deals, and provide advisory services in the securities business. This license, No. 32-20213, was issued based on the decision of the Capital Market Authority Council on 9/14/2020 AD.
For more information, please contact:
Asyaf Investment Company