Epik Foods secures $15.5mln investment for regional expansion
Deal News | Nov 14, 2024 | Zawya
Epik Foods, a UAE-based leader in the food and beverage industry, has secured $15.5 million in funding from Ruya Private Capital I, LP, managed by Ruya Partners. This capital infusion is set to accelerate Epik Foods' expansion into Saudi Arabia and enhance its presence in the UAE, empowering the company to pursue key acquisitions and bolster its diverse portfolio that includes a variety of F&B concepts like quick-service restaurants, meal kits, and more. Founded through a merger of brands in partnership with Gulf Islamic Investments, Epik Foods operates multiple brands across 60 locations and plans further growth. The investment reflects the rising potential of the GCC's F&B market, supported by growing disposable incomes and a shift toward health-conscious dining. Legal advisories for the deal included Addleshaw Goddard for Ruya Partners and DWF for Epik Foods.
Sectors
- Food & Beverage
- Private Equity & Investment Management
Geography
- United Arab Emirates – Epik Foods is based in the UAE and is expanding its operations in the region as per the article.
- Saudi Arabia – The article mentions that the investment will help Epik Foods expand its operations in Saudi Arabia as part of its growth strategy.
Industry
- Food & Beverage – The article discusses Epik Foods, a company operating in the food and beverage sector, known for its diverse F&B concepts including restaurants, meal kits, and catering services.
- Private Equity & Investment Management – The article highlights the role of Ruya Partners, a private credit fund management firm, in investing in Epik Foods to support its expansion and acquisitions.
Financials
- $15.5 million – The amount of funding secured by Epik Foods from Ruya Private Capital I, LP for regional expansion and acquisitions.
- SAR 58.1 million – Equivalent amount of the $15.5 million funding in Saudi Arabian Riyals.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Epik Foods | Target Company | Company | A UAE-based pioneering F&B group known for innovation and a diverse portfolio of 60 concepts across the UAE and Saudi Arabia. |
| Ruya Private Capital I, LP | Investor | Company | A fund managed by Ruya Partners, providing $15.5 million in funding to Epik Foods for regional expansion and acquisitions. |
| Ruya Partners | Manager of the Investing Fund | Company | An independent private credit fund management firm offering bespoke funding solutions in developing markets. |
| Khaled Fadly | Co-founder and CEO | Person | CEO and co-founder of Epik Foods, leading the company's growth and innovation in the F&B sector. |
| Ranya Basyuni | Co-founder | Person | Co-founder of Epik Foods, involved in strategic leadership of the company. |
| Gulf Islamic Investments (GII) | Partner | Company | A Shariah-compliant global alternative investment firm that partnered in forming Epik Foods, managing over $4.5 billion in assets. |
| Mirza Beg | Founding Partner | Person | Founding Partner of Ruya Partners, supporting the investment in Epik Foods. |
| Addleshaw Goddard (Middle East) LLP | Legal Advisor to Ruya Partners | Company | Provided legal advice to Ruya Partners for the funding transaction with Epik Foods. |
| DWF (Middle East) LLP | Legal Advisor to Epik Foods | Company | Provided legal advice to Epik Foods for the funding transaction with Ruya Partners. |