Leisure & Hospitality Jadwa buys 60% of Saudi chain Tikkaway Restaurants By Pramod Kumar July 18, 2024, 4:59 AM Tikkaway Restaurants Tikkaway currently has 20 branches and plans to expand to over 40 branches across the Kingdom in the next 24 months Jadwa Investment is acquiring a majority stake in the Saudi fast-food chain Tikkaway Restaurants for an undisclosed sum. The Riyadh-based investment management company acquired a 60 percent stake in Tikkaway through its food and beverage opportunities fund. The homegrown restaurant chain has 20 branches and plans to expand to more than 40 outlets across the kingdom in the next two years. Jadwa’s first acquisition in the F&B sector was the buyout of the Dubai-based food and beverage operator Black Spoon Group in December 2023. The company manages client assets worth SAR80 billion ($20 billion) in public equity, private equity, real estate, private credit, fixed income, and money market investments. The Saudi Arabia quick service restaurants market is estimated by the Indian market research company Mordor Intelligence at $9.35 billion in 2024. In a report, Mordor said it expected the market to reach $14.59 billion by 2029, growing at a CAGR of 9.31 percent Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
