By Staff writer
The First Investor acquires a 49% stake in Shater Abbas Restaurants International Group
The First Investor, the investment banking arm of Barwa Bank Group, announced on Monday that it has acquired a 49 percent stake in Shater Abbas Restaurants International Group, a Qatar-based restaurant chain.
Established in Qatar in 1998 by Hussain Al Emadi, the Shater Abbas Restaurants concept features a variety of Persian and Gulf contemporary cuisine.
The company has nine outlets, a central kitchen and offers home delivery and catering services and has more than 270 employees.
Six of the outlets are dine-in locations, while the remaining three are located in shopping mall food courts.
Yousef Al Obaidan, acting CEO of The First Investor, said: "Our investment in Shater Abbas is in line with our strategy of investing in middle market companies operating in the food & beverage sector with strong fundamentals.
"The company has built an outstanding concept and is planning as well to diversify its network through the development of new high-ends food concepts, which we plan to grow and develop together over the coming years in the GCC region and globally."
Al Emadi, chairman and managing director of Shater Abbas Restaurants International Group, added: "This partnership with The First Investor is a strategic step forward for Shater Abbas, our focus now is to maintain the quality of our food, diversify our services and enhance our procurement and operations processes."