Epik Foods Expands with $15.5M Boost
Deal News | Nov 11, 2024 | Zawya
Abu Dhabi-based Ruya Partners, a pioneering partner-owned private credit fund management firm, has announced a significant investment in the UAE's omnichannel restaurant group, Epik Foods, by deploying USD 15.5 million (SAR 58.1 million) from its Ruya Private Capital I, LP fund. The latest capital injection is aimed at bolstering Epik Foods' expansion strategies in Saudi Arabia and fostering further growth within the UAE market. Established through the merger of Happy Platter Kitchen, Kreative Restaurant and Co, and Sweetheart Kitchen by KR&CO founders Khaled Fadly and Ranya Basyuni in collaboration with Gulf Islamic Investments (GII), Epik Foods operates over 60 diverse F&B brands across 50 locations and has an additional 20 in the pipeline. The strategic investment reflects Ruya Partners' dedication to providing tailored growth financing to GCC-based mid-market enterprises, with an emphasis on thriving markets like Saudi Arabia. Founding Partner of Ruya Partners, Mirza Beg, underscores the importance of partnerships with established financial sponsors such as GII in promoting Epik Foods' growth. Ruya's updated portfolio now includes sectors such as media, energy, fitness, and food, indicating a robust pipeline and more upcoming investments.
Sectors
- Private Equity
- Food & Beverage
Geography
- United Arab Emirates – The article discusses a company based in the UAE and the firm Ruya Partners, which is located in Abu Dhabi.
- Saudi Arabia – Epik Foods plans to use the investment to expand its operations within Saudi Arabia, indicating the relevance of this geography.
Industry
- Private Equity – Ruya Partners, a private credit fund management firm, is involved in financing transactions in the private equity sector.
- Food & Beverage – Epik Foods is a major player in the food and beverage industry with numerous brands and operates multiple restaurants.
Financials
- USD 15.5 million (SAR 58.1 million) – The amount invested by Ruya Partners in Epik Foods for expansion and acquisitions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Epik Foods Global Holding | Target company | Company | A major omnichannel restaurant group in the UAE formed by a merger of local food tech players. |
| Ruya Partners | Investment Firm/Bidding Company | Company | An Abu Dhabi-based private credit fund management firm that offers bespoke funding solutions. |
| Gulf Islamic Investments (GII) | Partner | Company | A Shariah-compliant global alternative investment company with significant assets under management. |
| Khaled Fadly | CEO and Founder of Epik Foods | Person | One of the founders of KR&CO and instrumental in forming Epik Foods. |
| Mirza Beg | Founding Partner of Ruya Partners | Person | A key figure in Ruya Partners, involved in providing growth financing solutions. |