Fawaz Alhokair Group acquires a 10% stake in Turkish F&B brand

July 20, 2017 | By RetailME Bureau

Turkish home-grown F&B brand Simit Sarayi says that Saudi Arabia-based Fawaz Alhokair Group signed a strategic partnership agreement to acquire a 10% stake in Simit Sarayi. Fawaz Alhokair Group will appoint Dr Abdul Majeed Alhokair, group vice president, as a member of the board of directors of Simit Sarayi.

Fawaz Alhokair Group, one of the largest and most successful operators in the shopping mall, entertainment, F&B and fashion retail sectors in Saudi Arabia and the MENA region, signed a master franchise agreement with Simit Sarayi back in 2014 and successfully rolled out 50 Simit Sarayi stores in the MENA region to date. Under the master franchise agreement, Fawaz Alhokair Group plans to roll out more than 250 stores in the next four years.

“We are pleased to establish a strong shareholder partnership with Alhokair Group. This investment by Alhokair Group will help Simit Sarayi, with a current presence in 21 countries, continues on its journey to becoming a leading global F&B retail brand,” says Abdullah Kavukcu, chairman and CEO of Simit Sarayi.

“We are delighted to become a strategic shareholder in one of Turkey’s leading and iconic F&B retail companies. We have witnessed an outstanding operational and financial performance of Simit Sarayi stores in the MENA region over less than three years and are very impressed by the expanding global footprint of Simit Sarayi,” adds Fawaz A. Alhokair, founder and chairman of Fawaz Alhokair Group.

Founded in 2002, Simit Sarayi targets 408 stores across 21 countries, including Turkey, by the end of 2017.

Fawaz Alhokair Group presently operates a network of over 16 shopping malls, managing more than 17 million sqft of the prime retail real estate. The fashion retail business is present across 16 countries, operates 2,100 stores representing more than 80 international brands.



Previous Article Next Article



Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau
Food Tech Valley partners with Tradeling to boost UAE’s food ecosystem

UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness 

Continue Reading

November 17, 2022 | By RetailME Bureau
Lulu Hypermarket to open in The Dubai Mall in 2023

Abu Dhabi-based supermarket chain Lulu Hypermarket is all set to open in 

Continue Reading

November 10, 2022 | By Rupkatha B
Beyond Meat’s Q3 2022 results “disappointing”

Plant-based meat brand Beyond Meat’s financial results for the third quarter of 

Continue Reading

November 10, 2022 | By RetailME Bureau
Barakat unveils new biodegradable packaging

UAE’s fresh produce brand Barakat has launched bio-degradable packaging across its entire 

Continue Reading

October 27, 2022 | By RetailME Bureau
Pure Harvest CEO Sky Kurtz

UAE-based agritech start-up Pure Harvest Smart Farms has signed a Memorandum of 

Continue Reading

October 27, 2022 | By RetailME Bureau
Carrefour signed up as anchor tenant for Midtown Project

Carrefour, owned and operated by Majid Al Futtaim – Retail in the 

Continue Reading

October 27, 2022 | By RetailME Bureau
Grandiose Supermarket announces country-wide expansion plans

Grandiose Supermarket, part of Ghassan Aboud Group, has announced expansion plan in 

Continue Reading

October 26, 2022 | By Rupkatha B
100 years of Valrhona

The Valrhona journey began 100 years ago with a cocoa bean. Since 

Continue Reading

October 24, 2022 | By Justina Eitzinger
On-demand grocery delivery in 15 mins

Deliveroo UAE has announced the expansion of its rapid grocery delivery service 

Continue Reading

October 24, 2022 | By RetailME Bureau
Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment

The Ministry of Climate Change and Environment (MOCCAE) revealed that the UAE 

Continue Reading

October 17, 2022 | By RetailME Bureau

Abu Dhabi-based leading supermarket chain Lulu Group has appointed investment bankers Moelis 

Continue Reading

October 13, 2022 | By RetailME Bureau

Download Images RetailME Magazine