Jahez to Acquire 76% Stake in Snoonu for $245 Million
Deal News | Jul 09, 2025 | Zawya
The Saudi food delivery firm, Jahez, has announced the acquisition of a significant majority stake in the Qatari on-demand delivery company Snoonu. This $245 million transaction, which involves acquiring 76.56% of Snoonu's shares, marks Jahez’s strategic entry into the Qatari market as part of its expansion throughout the GCC region. The acquisition includes an initial buyout of 75% of Snoonu's share capital from current shareholders for $225 million and a subsequent subscription to 1.56% in newly issued shares for an additional $20 million. This transaction, expected to be completed by the second half of 2025, solidifies Jahez’s position in multi-vertical delivery services, with Snoonu continuing to operate under its existing brand. Valued at $320 million post-deal, Snoonu is known for its operations across food, grocery, e-commerce, and logistics since its inception in 2019. The transaction, requiring the approval of regulatory bodies, will utilize Jahez’s current cash flows, bank facilities, and existing treasury shares. The financial advisory for this deal is provided by EFG Hermes KSA, with legal advisory from Kirkland & Ellis.
Sectors
- Food Delivery
- Logistics and E-commerce
- Corporate Finance
- Legal Advisory
Geography
- Saudi Arabia – Jahez is based in Saudi Arabia, where it operates its primary business activities and financial arrangements for the acquisition.
- Qatar – Snoonu, the target of the acquisition, is located in Qatar, which is the new market Jahez is entering through this deal.
- GCC (Gulf Cooperation Council) – The acquisition supports Jahez's expansion strategy within the GCC region, emphasizing regional economic integration.
Industry
- Food Delivery – Jahez and Snoonu both operate in the food delivery sector, providing on-demand delivery services for food, groceries, and other consumer goods.
- Logistics and E-commerce – Snoonu is involved in logistics and e-commerce, which are integral parts of their multi-vertical delivery services, alongside food and grocery.
- Corporate Finance – The acquisition involves financial processes requiring advisory services provided by EFG Hermes KSA, highlighting the role of corporate finance.
- Legal Advisory – Kirkland & Ellis acted as the legal advisor for the deal between Jahez and Snoonu, underscoring the legal advisory industry’s involvement.
Financials
- $245 million – Total value of the acquisition for a 76.56% stake in Snoonu by Jahez.
- $225 million – Amount paid by Jahez for 75% of Snoonu's existing shares.
- $20 million – Additional amount Jahez will pay for a 1.56% stake through newly issued shares in Snoonu.
- $320 million – Estimated post-acquisition valuation of Snoonu.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Jahez | Bidding Company | Company | A Saudi-listed company providing on-demand services, q-commerce, digital solutions, and cloud kitchens across the GCC. |
| Snoonu | Target Company | Company | A Qatari multi-vertical platform offering services in food, grocery, e-commerce, and logistics. |
| EFG Hermes KSA | Financial Advisor | Company | Provided financial advisory services for Jahez in the acquisition of Snoonu. |
| Kirkland & Ellis | Legal Advisor | Company | Provided legal advisory services for Jahez in the acquisition. |
| Hamad Mubarak Al Hajri | Person Retaining Ownership | Person | Founder and CEO of Snoonu, who will retain a 23.44% stake in the company post-acquisition. |