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Mohammed AlDhabaan & Partners in association with Eversheds Sutherland (International) LLP acts for 'Sultan Delight Burger', as a Private Equity Fund acquires a stake

  • Saudi Arabia


    Mohammed AlDhabaan & Partners in association with Eversheds Sutherland (International) LLP acted as legal advisor to the sellers, on a deal which saw MEFIC Capital successfully invest in Ghatha’a Al Sultan For Fast Foods Company (“the Company”).

    The Company is a leading Quick Service Restaurant chain, operating under the brand name “Sultan Delight Burger”. It has 22 restaurants in the Western & Southern Province of the Kingdom (including Jeddah, Mekkah, Rabigh and Jazan) and the restaurants are known for selling tasty and affordable burgers.

    MEFIC Capital, the fund manager of MEFIC Private Equity Food & Beverage Opportunities Fund (the “Fund”), acquired a substantial minority stake in the Company, with the founders retaining control and management of the business.

    Aref Musbahi, founding shareholder and CEO of Sultan Burger, stated, “Our partnership with MEFIC Capital marks a key milestone in the success story of Sultan Burger. We are confident that with the support of a prominent financial institution like MEFIC Capital, we are well positioned to take the Company into the next stage of its development and accelerate its expansion with the objective of doubling the size of the business over the next 2 years.”

    Ibrahim Al Hedaithy, Managing Director MEFIC Capital, commented, “Sultan Burger is a success story demonstrating the Saudi talent to create a local brand and concept that can compete with the best international QSR brands. Sultan Burger is well positioned in the growing Saudi fast food sector and we are committed to support our partners to accelerate the development of the Company throughout the Kingdom.”

    Joseph Hakme, Head of Private Equity at MEFIC Capital, added, “Our investment in Sultan Burger is consistent with our strategy of investing in successful Saudi SMEs enjoying strong track record and solid growth potential. We look forward to further expanding MEFIC’s Private Equity franchise which started with our very successful investment in Bodymasters in 2012, and are currently working on some exciting opportunities in both equity and mezzanine financing within the Saudi SME sector.”

    Fahad AlDehais commented, “Sultan Burger and MEFIC Capital really complement each other and it was a pleasure to work on this deal. We are very pleased to have a been a part of this deal.”

    Mohammed AlDhabaan & Partners in association with Eversheds Sutherland’s team included: Fahad AlDehais, Managing Partner; Anmar Al Gharifi, Principal Associate; Ashraf Al Faraj, Associate and Faisal AlZamil, Trainee.

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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