Kuwait-based Global Investment House has announced that it has completed the acquisition of a 100 percent stake in Yum Yum Tree Food Court Co, one of the largest quick service restaurant managers in the Gulf region.
Global said its alternative asset management arm, Global Capital Management, has signed the deal for the company which was established in 1995 with five restaurants in Bahrain and one in the UAE and has since grown to reach nearly 180 restaurants.
Steered by its founder Dr Adel Bukhowa and his son Omar, Yum Yum Tree is today the master franchisee or operator of more than 20 international and regional brands including Vanellis, Subway (Bahrain), Teryaki, Pad Thai and Al Mangal across Bahrain, the UAE, Qatar, and via a sub-franchisee agreement in Saudi Arabia.
Sulaiman Al-Rubaie, managing partner at GCM and head of Global’s Alternative Asset Management division said: “This acquisition gives our clients unique access into a growing sector which is resilient to economic downturns. Unlike the fine and casual dining segments, the QSR segment is least prone to economic volatilities and has already shown resilience in the past two challenging years for retail and especially food retail in the region.”
Omar Bukhowa said: “We are confident that Global’s private equity team will take Yum Yum Tree to the next level as a truly international concept and we would like to wish them the best of success for years to come.”For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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