Gateway Partners invests in Tim Hortons Gulf franchise

April 12, 2020 | By RetailME Bureau

Dubai-based private equity firm Gateway Partners has, reportedly, invested in the Gulf franchise of coffee and breakfast chain Tim Hortons, acquiring a 40% stake. Tim Hortons is part of retail conglomerate Apparel Group in the GCC.

Gateway Partners, which is led by former Standard Chartered banker Viswanathan Shankar, reportedly paid about $50 million for the holding. Gateway Partners made the investment through its Gateway Fund 1 in February 2020, indicates information on its website. However, Gateway Partners declined to comment.

Meanwhile, Apparel Group chairman Nilesh Ved has confirmed Gateway’s investment, which he said would be used to grow the business, but declined to discuss the value or size of the deal.

The website describes the Tim Hortons regional business as the chain’s leading franchise outside of North America, with 141 stores as of the end of last year across the Middle East.

April RetailME magazine Website Banner

Our April e-edition is out! Request your copy.

While cafés and restaurants have been temporarily closed for dine-in across the GCC after a lockdown to contain the COVID-19 outbreak, Ved said six-seven Tim Hortons outlets remain open for deliveries to customers in Dubai and 15 are doing business in Saudi Arabia, through the use of third-party delivery apps.

Prior to the COVID-19 outbreak leading to movement restriction across the GCC, Ved had said that Apparel Group had planned to open another 300 Tim Hortons outlets in the next three years.



Previous Article Next Article


UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the 

Continue Reading

January 17, 2021 | By RetailME Bureau

Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created 

Continue Reading

January 5, 2021 | By RetailME Bureau
Al Islami Plant-Based Burger

UAE-based Al Islami Foods, one of the largest frozen food companies in 

Continue Reading

January 3, 2021 | By RetailME Bureau
Marks & Spencer's plant-based range

Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free 

Continue Reading

December 23, 2020 | By RetailME Bureau

World’s largest fully integrated online brand in fresh fish and meat e-commerce 

Continue Reading

December 14, 2020 | By RetailME Bureau

Homegrown, organic and plant milk company, Koita has announced its expansion into 

Continue Reading

December 9, 2020 | By RetailME Bureau
Middle East's vegan revolution

Today’s on-demand streaming services are ripe with docu-series and explainer videos on 

Continue Reading

December 3, 2020 | By Shruthi Nair

International food retailer, SPAR has today announced a global partnership to tackle food waste with the 

Continue Reading

December 3, 2020 | By RetailME Bureau

UAE-based concept grocery retail chain, Grandiose has opened a new supermarket within 

Continue Reading

November 22, 2020 | By RetailME Bureau

US-based fast food chain, Nathan’s famous Inc. brings another New York classic, 

Continue Reading

November 12, 2020 | By RetailME Bureau

Dubai-based Union Coop, the leading Consumer Cooperative in the UAE, opened its 

Continue Reading

November 11, 2020 | By RetailME Bureau

Download Images RetailME Magazine