Saudi Arabia-based Bateel has formed a new partnership with L Capital Asia, the Asian private equity fund sponsored by LVMH Moët Hennessy Louis Vuitton S.A. (LVMH).
The L Capital Asia Team has been working with Bateel very closely over the last few years and plans to continue to do so and expand on the relationship to help Bateel achieve its potential worldwide, which already has market presence in 16 countries across Asia, Africa, Europe and the Middle East.
“The partnership with L Capital Asia is a very welcome development, coming at an important juncture in Bateel’s corporate life cycle. We have built a premium brand with a strong market position and robust growth prospects. With a well-defined and tested business model and a strong production and distribution infrastructure in place, we are poised to accelerate Bateel’s expansion beyond our current core markets in the Gulf,” says Bateel’s managing director Ata Atmar. L Capital Asia is the perfect partner to help in this endeavour. We look forward to leveraging their deep knowledge and passion for management of premium brands as we bring Bateel to connoisseur of fine food around the world.”
“We are excited to partner with Bateel to promote the next phase of growth. The Middle East region has for long been a key consumption market for most leading international brands, but there have been very few local brands that have developed a unique position in the market. Bateel has been a tremendous success with its origins in the Middle East. Not only have they created a unique branded packaged goods proposition for dates, which were traditionally viewed as a commodity product, but also deliver a world-class café experience with a flavour of the Middle East through the Bateel cafes. With the world seeking healthier and newer options, we believe the Bateel franchise has tremendous potential, and we hope to work closely with the company to take the brand to more people across the globe,” adds Ravi Thakran, chairman & managing partner of L Capital Asia.