Riyadh-based investment firm Jadwa announced its recent private equity investment in the F&B sector by purchasing Blackspoon Group.
Through the Jadwa Food & Beverage Opportunities Fund, Jadwa Investment acquired the entirety of Blackspoon Group, a prominent player in casual dining with ten branches across three acclaimed restaurant chains in the UAE, notably its flagship brand, Allo Beirut.
Allo Beirut holds a significant market position in the Lebanese casual dining segment in the UAE, drawing a diverse customer base with its quality offerings at competitive prices. Alongside its existing operations in the UAE, Blackspoon Group has initiated expansion plans throughout the GCC, intending to franchise over 30 new Allo Beirut outlets across the region in the next five years, focusing primarily on Saudi Arabia.
“This investment is an extension of our strategy to capitalise on the increasingly attractive consumer sector across the GCC, which has begun to reap the fruits of transformational government initiatives, a young and growing population, and rising income levels,” said Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment.
This transaction marks Jadwa’s sixteenth private equity investment since its establishment and represents the firm’s second acquisition in the consumer sector in 2023, following its investment in Gissah Perfumes.
