Kitopi acquires F&B group AWJ Investments
Cloud kitchen platform Kitopi has acquired F&B group AWJ Investments – the holding company behind restaurants including Operation Falafel, Catch 22, Awani and Sushi Do, among others.
The acquisition comes as part of Kitopi’s ongoing strategy to invest in and grow much-loved regional brands and take them global. The deal, which occurred for an undisclosed amount and is reportedly one of the largest F&B transactions in the GCC, will see the AWJ’s brands expand in new markets where Kitopi has a solidified presence and a vast network of locations, unlocking new opportunities and access to more customers. For perspective, currently Kitopi operates with over 100 brands in 200+ locations across five markets.
Commenting on the acquisition, Manhal Naser, former Group CEO and Cofounding Director of AWJ said, “It has been an honour to establish, lead and work so closely with the AWJ team whom I consider as family. We have built on our core fundamentals, raising the bar and setting the business up for a sustainable future – thanks to our 1300+ team champions, our supporting shareholders, the unique brands we have created and the millions of consumers we serve. It is now time for a new chapter and having worked closely with Kitopi and Mohamed Ballout, Co-founder and CEO, I believe they are best positioned to take AWJ to the next level.”
While AWJ will welcome a new CEO it will retain its original team and operate as a separate vertical to Kitopi’s on-demand business.
“With a purpose to satisfy the world’s appetite to create joy we always strive to bring the best to our customers. To this end, we are incredibly proud to have acquired AWJ and its portfolio of brands. The co-founders and leaders of AWJ have done a remarkable job in building its iconic brands and growing them across borders – and it is going to be a privilege to continue to innovate, elevate and expand its success,” Ballout added.
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