Jahez to Acquire Majority Stake in Qatar's Snoonu for $245M
Deal News | Jul 09, 2025 | Zawya
Saudi Arabia's prominent food delivery firm Jahez has announced it will acquire a 76.56% stake in Qatar-based on-demand delivery company Snoonu for a sum of $245 million. This strategic acquisition is an integral part of Jahez's broader initiative to expand its footprint within the Gulf Cooperation Council (GCC) region. The deal, which includes the purchase of 8,144,546 shares for $225 million and a subscription to 723,960 newly minted shares for $20 million, is expected to close by the second half of 2025. This will enable Jahez to establish a significant presence in Qatar, while Snoonu's founder and CEO, Hamad Mubarak Al Hajri, will retain the remaining 23.44% ownership stake. The completion of the transaction hinges on regulatory approvals and standard closure conditions. Snoonu, while continuing under its brand post-acquisition, is valued at 1.165 billion Qatari riyals ($320 million). With the transaction financed through Jahez's existing cash reserves, bank facilities, and treasury shares, EFG Hermes KSA and Kirkland & Ellis are serving as financial and legal advisors for Jahez, respectively.
Sectors
- Food Delivery
- Logistics and E-Commerce
Geography
- Saudi Arabia – Jahez is a Saudi-listed company and is expanding its operations, denoting Saudi Arabia as a key geographical area involved.
- Qatar – The acquisition involves Snoonu, a Qatari company, marking Qatar as an essential geographical focus of the transaction.
Industry
- Food Delivery – The article centers around Jahez, a Saudi food delivery firm, acquiring a stake in Snoonu, which is also involved in on-demand delivery services, including food delivery.
- Logistics and E-Commerce – Snoonu is described as a multi-vertical platform that spans logistics, e-commerce, grocery, and food delivery, indicating relevance to these industries.
Financials
- 245,000,000 – Total transaction value for acquiring a 76.56% stake in Snoonu by Jahez.
- 225,000,000 – Cash and shares in Jahez for acquiring 8,144,546 shares of Snoonu.
- 20,000,000 – Cash consideration for an additional 1.56% of newly issued shares in Snoonu.
- 320,000,000 – Estimated valuation of Snoonu post-transaction in USD.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Jahez | Acquirer | Company | A Saudi-listed food delivery and logistics company expanding into the GCC region. |
| Snoonu | Target company | Company | A Qatari on-demand delivery company that provides a multi-vertical platform including food, grocery, e-commerce, and logistics. |
| Hamad Mubarak Al Hajri | CEO & Founder of Snoonu | Person | The founder and CEO of the target company, Snoonu, who will retain a minority stake post-acquisition. |
| EFG Hermes KSA | Financial Advisor | Company | Served as the financial advisor to Jahez for the transaction. |
| Kirkland & Ellis | Legal Advisor | Company | Provided legal advisory services to Jahez during the acquisition process. |